Work

Cooperative R&D with Endogenous Technology Differentiation

Year: 2005

Type: article

Abstract: We study a nontournament R&D duopoly. Before the standard R&D investment and quantity‐setting stages, we consider a stage in which firms choose their R&D technologies. Spillovers negatively depend on R&D technology differentiation. We show that, in equilibrium, firms will choose identical or very similar R&D processes. Such equilibria may entail less differentiation than would be dictated by social welfare maximization.

Source: Journal of Economics & Management Strategy

DOI: 10.1111/j.1530-9134.2005.00048.x

Authors: María José Gil Moltó, Nikolaos Georgantzís, Vicente Orts

Institutions: Loughborough University, Universitat Jaume I

Language: English

Topic: Merger and Competition Analysis

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: green

OpenAlex ID: W1978803199

FWCI: 3.804

Cites: 23

Cited by: 55

Related to: 10