In an experiment comparing two-person bargaining and multiperson markets in Israel, Japan, the United States, and Yugoslavia, market outcomes converged to equilibrium everywhere, with no payoff-relevant differences between countries. Bargaining outcomes were everywhere different from equilibrium...

This paper examines the positive and normative effects of cooperative R&D--whereby member firms commit themselves to the joint profit-maximizing level of R&D in a "precompetitive stage" but remain fierce competitors in the product market--vis-a-vis noncooperative R&D, socially first-best R&D,...