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Research and Development (R&D) projects

Critically review the incentives and disincentives to invest in Research and Development (R&D) projects (to innovate) for a firm, industry and country. Illustrate each of your arguments with examples from the business world.
Please ensure that you make use of an appropriate economics based theoretical framework which employs suitable concepts developed in this course, as well as appropriate examples in support of your answer.
**** This book must be d as a reference in this essay:-

Besanko, D., D. Dranove, M. Shanley and S. Schaefer. (2013) Economics of Strategy, Sixth Edition, John Wiley.
**** Assignment Guidance:-
The assignment should be 1,000 words (maximum), excluding footnotes and bibliography, to be submitted by the submission deadline.
Write a clearly written document, preferably typed using size 12 fonts. You may typeset your document using double or one-half spacing, but single spaced documents are perfectly acceptable. Leave adequate margins on the sides for comments (at least one inch margins should be allowed). Students are advised to adhere to the published word limits.
Every paragraph must have a reference

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