Dynamic Resource Allocation of Investment and Competitive Growth: R&D Investment and Capital Investment
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In this paper, we discuss the resource allocation of investment. Our researches of simulation have shown that resource allocation of a firm in the high-tech industry is very important (Lee and Deguchi, 2000a, 2000b, 2000c, 2001). R&D investment affects the quality of goods; capital investment affects the quantity of goods in our model. The equation of resource allocation is solvable in static models, however it is almost impossible to solve the equation in dynamic models. The optimal growth path for an agent does not exist in dynamic multi-agent models because information is not perfect and strategies of other agents are unknown. Instead we introduce learning method.
KeywordsInnovation High-tech industry R&D Resource Allocation
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