THE GAINS FROM COOPERATIVE R&D WITH A CONCAVE TECHNOLOGY AND SPILLOVERS

We reassess the respective gains from R&D cooperation and competition in a Cournot duopoly where firms adopt a concave cost-reducing R&D technology. Cooperation, in the form of either a cartel or a joint venture, is always profitable for firms and, contrary to the previous literature on the same topic, (i) no corner solutions emerge and (ii) R&D cooperation is socially superior to independent ventures for any spillover level, provided the cost of R&D financing is sufficiently high.

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Year of publication:	2009
Authors:	LAMBERTINI, LUCA ; ROSSINI, GIANPAOLO
Published in:	International Game Theory Review (IGTR). - World Scientific Publishing Co. Pte. Ltd., ISSN 1793-6675. - Vol. 11.2009, 01, p. 77-85
Publisher:	World Scientific Publishing Co. Pte. Ltd.
Subject:	Process innovation \| R&D cooperation \| joint ventures

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	B4 - Economic Methodology ; C0 - Mathematical and Quantitative Methods. General ; C6 - Mathematical Methods and Programming ; C7 - Game Theory and Bargaining Theory ; D5 - General Equilibrium and Disequilibrium ; D7 - Analysis of Collective Decision-Making ; M2 - Business Economics
Source:	RePEc - Research Papers in Economics