This paper studies stable structures of efficiency-enhancing joint ventures among symmetric firms. Efficiency gains that accrue to a joint venture are assumed to increase with its size. The socially efficient industry-wide joint venture is the stable outcome when membership of a joint venture is...

We examine the endogenous formation of research coalitions among symmetric firms. In our model, the number of research joint ventures and their sizes are determined endogenously. Members of a research coalition set their R amp; D investments in order to maximize the aggregate profits of members...

One of the most enduring controversies in antitrust concerns the potential foreclosure effects of vertical integration. In a recent paper, Ordover, Saloner and Saloner and Salop (1990) construct a model of vertical integration in which vertical foreclosure emerges as the equilibrium outcome....