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Incomplete information and R&D organization

Author

Listed:
  • Srobonti Chattopadhyay

    (Vidyasagar College for Women)

  • Tarun Kabiraj

    (Indian Statistical Institute, Kolkata)

Abstract

This paper studies the choice of cooperative versus non-cooperative R&D under incomplete information about the innovation size of the rival. It is assumed that the R&D outcome is stochastic and continuously distributed with a given mean and a constant variance. We show that the incentive for cooperative research is smaller the larger is the variance of the R&D outcome, irrespective of the nature of the product market competition (Cournot versus Bertrand).

Suggested Citation

  • Srobonti Chattopadhyay & Tarun Kabiraj, 2015. "Incomplete information and R&D organization," Economics Bulletin, AccessEcon, vol. 35(1), pages 14-20.
    • Handle: RePEc:ebl:ecbull:eb-15-00125
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    File URL: http://www.accessecon.com/Pubs/EB/2015/Volume35/EB-15-V35-I1-P2.pdf
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    More about this item

    Keywords

    Cooperative R&D; non-cooperative R&D; incomplete information; variance of the research outcome.;
    All these keywords.

    JEL classification:

    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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