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Cooperative R&D with Endogenous Technology Differentiation
journal contribution
posted on 2006-05-30, 11:30 authored by Maria Jose Gil-Molto, Nikolaos Georgantzis, Vicente OrtsWe 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.
History
School
- Business and Economics
Department
- Economics
Pages
100670 bytesCitation
GIL-MILTO, M.J., GEORGANTZIS, N. and ORTS, V., 2005. Cooperative R&D with Endogenous Technology Differentiation. Journal of Economics & Management Strategy, 14(2), pp.461–476Publisher
© BlackwellPublication date
2005Notes
This is Restricted Access. This article was published in the journal, Journal of Economics & Management Strategy [© Blackwell] and is available at: http://www.blackwellpublishing.com/journal.asp?ref=1058-6407.ISSN
1058-6407Language
- en
