Consumer preferences and product and process R&D. From: RAND Journal of Economics | Date: March 22, 2007| Author: Saha, Souresh | COPYRIGHT 2007 Rand, Journal of Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Firms often conduct both product and process R&D. Consumer preferences typically play a vital role in determining these R&D choices. The economics literature, however, has mostly ignored the interrelationship between the R&D choices of firms and consumer preferences. I study product and process R&D from the perspective of their relationship with consumer preferences. In doing so, I find a novel distinction between the two kinds of R&D. This distinction can explain several empirical...

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