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Equilibrium and Optimal Size of a Research Joint Venture in an Oligopoly with Spillovers

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Author Info
Poyago-Theotoky, Joanna

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Abstract

This paper analyzes a simple oligopoly model with information spillovers. Firms spend on R&D to affect their costs of production. The main finding is that, depending on the magnitude of the spillover, the market may not provide enough incentives for the optimum degree of cooperation to take place. It is shown that the equilibrium size of a research joint venture is usually less than the optimum size, which requires all firms to participate in the research joint venture. The policy implications of this result are that there should be encouragement for firms competing in high-technology industries to form industry-wide cooperative agreements. Copyright 1995 by Blackwell Publishing Ltd.

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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Industrial Economics.

Volume (Year): 43 (1995)
Issue (Month): 2 (June)
Pages: 209-26
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Handle: RePEc:bla:jindec:v:43:y:1995:i:2:p:209-26

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-1821

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  1. Navas, Jorge & Kort, Peter M., 2005. "Time to complete and research joint ventures : a differential game approach," Discussion Paper 29, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  2. Gamal Atallah, 2003. "Information sharing and the stability of cooperation in research joint ventures," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 12(6), pages 531-554, January. [Downloadable!] (restricted)
    Other versions:
  3. Stéphane Lhuillery, 2006. "Voluntary technological disclosure as an efficient knowledge management device: An empirical study," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 15(4-5), pages 465-491, June. [Downloadable!] (restricted)
    Other versions:
  4. Joel Sandonís & Petr Mariel, 2004. "Technology And Antitrust Policies In A Polluting Industry," Prague Economic Papers, University of Economics, Prague, vol. 2004(1), pages 67-81. [Downloadable!] (restricted)
  5. Tomaso Duso & Enrico Pennings & Jo Seldeslachts, 2008. "The Dynamics of Research Joint Ventures: A Panel Data Analysis," CIG Working Papers SP II 2007-12, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
    Other versions:
  6. Belderbos, Rene & Carree, Martin A & Diederen, Bert & Lokshin, Boris & Veugelers, Reinhilde, 2003. "Heterogeneity in R&D Cooperation Strategies," CEPR Discussion Papers 4021, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  7. Gamal Atallah, 2005. "Partner Selection in R&D Cooperation," CIRANO Working Papers 2005s-24, CIRANO. [Downloadable!]
  8. Gamal Atallah, 2002. "Vertical R&D Spillovers, Cooperation, Market Structure, and Innovation," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 11(3), pages 179-209, January. [Downloadable!] (restricted)
    Other versions:
  9. Nisvan Erkal:Daniel Piccinin, 2007. "Cooperative R&D under Uncertainty with Free Entry," Department of Economics - Working Papers Series 999, The University of Melbourne. [Downloadable!]
  10. Masao Nakamura & Mariko Sakakibara, 2003. "Knowledge sharing in cooperative research and development," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(2-3), pages 117-132. [Downloadable!]
  11. Constantine Manasakis & Emmanuel Petrakis, 2005. "Downstream Research Joint Venture with Upstream Market Power," Working Papers 0513, University of Crete, Department of Economics. [Downloadable!]
  12. Rod Falvey & Joanna Poyago-Theotoky & Khemarat Teerasuwannajak, 2006. "Coordination Costs: A Drawback for Research Joint Ventures?," Discussion Paper Series 2006_3, Department of Economics, Loughborough University, revised Feb 2006. [Downloadable!]
  13. Patrick Greenlee & Bruno Cassiman, 1999. "Product market objectives and the formation of research joint ventures," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 20(3), pages 115-130.
  14. Marín Uribe, Pedro Luis & Siotis, Georges, 2002. "Public Policies Towards Research Joint Venture Formation: Designs and Outcomes," CEPR Discussion Papers 3772, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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