Stability, Global Dynamics, and Social Welfare of a Two-Stage Game under R&D Spillovers

Figure 9

(a) The bifurcation diagrams of the social welfare with parameter , where the parameters are chosen as , , , , , and . (b) The bifurcation diagram of R&D investments () corresponding to Figure 9(a). (c) The average social welfare with parameter and the rest parameters are the same with Figure 9(a). (d) The average profits of firm 1 and firm 2 with parameter and the rest parameters are the same with Figure 9(a). (e) The bifurcation diagrams of the social welfare with parameter , where the parameters are chosen as , , , , , and . (f) The bifurcation diagram of R&D investments () corresponding to Figure 9(e). (g) The average social welfare with parameter and the rest parameters are the same with Figure 9(e). (h) The average profits of firm 1 and firm 2 with parameter and the rest parameters are the same with Figure 9(e).

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