Time to complete and research joint ventures: A differential game approach
AbstractIn this paper we analyze cooperation in R&D in the form of RJVs.We show that the optimal size of an RJV does not only depend on the degree of spillovers, as literature suggests, but also on the cost function of R&D activities.Moreover, the explicit consideration of the fact that R&D projects take time to complete shows that benefits from cooperation in R&D not only allow RJVs to carry out larger R&D projects, but also to reduce the time to completion for projects with a given size and, consequently, to accelerate the acquisition of the benefits associated with the innovation.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Dynamics and Control.
Volume (Year): 31 (2007)
Issue (Month): 5 (May)
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Other versions of this item:
- Navas, J. & Kort, P.M., 2005. "Time to Complete and Research Joint Ventures: A Differential Game Approach," Discussion Paper 2005-29, Tilburg University, Center for Economic Research.
- Kort, P.M. & Navas, J., 2007. "Time to complete and research joint ventures: A differential game approach," Open Access publications from Tilburg University urn:nbn:nl:ui:12-194290, Tilburg University.
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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