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Research and Development with Asymmetric Firm Sizes

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Author Info
Richard J. Rosen
Abstract

This article presents a theoretical model of research and development (R&D) competition among firms. The goal of the model is to simultaneously explain two empirical observations pertaining to the persistence of dominant firms: small firms make a disproportionate share of major innovations, while large firms tend to spend more (in absolute terms) on R&D than small firms do. In the model here, firms choose investment levels and R&D project riskiness. In equilibrium, a large firm invests more than a smaller firm but, by choosing safer R&D projects, makes fewer major innovations.

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File URL: http://links.jstor.org/sici?sici=0741-6261%28199123%2922%3A3%3C411%3ARADWAF%3E2.0.CO%3B2-4&origin=repec
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Publisher Info
Article provided by The RAND Corporation in its journal RAND Journal of Economics.

Volume (Year): 22 (1991)
Issue (Month): 3 (Autumn)
Pages: 411-429
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Handle: RePEc:rje:randje:v:22:y:1991:i:autumn:p:411-429

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  1. 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)
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  2. Garcia Pires, Armando José, 2006. "International Trade with Competitiveness Effects in R&D," CEPR Discussion Papers 5547, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. Wilfred Amaldoss & Sanjay Jain, 2002. "An Analysis of the Impact of Social Factors on Purchase Behavior," Review of Marketing Science Working Papers 2-1-1021, Berkeley Electronic Press. [Downloadable!]
  4. Reinhilde Veugelers & Katrien Kesteloot, 1996. "Bargained shares in joint ventures among asymmetric partners: Is the matthew effect catalyzing?," Journal of Economics, Springer, vol. 64(1), pages 23-51, February. [Downloadable!] (restricted)
  5. Röller, Lars-Hendrik & Siebert, Ralph & Tombak, Mihkel, 2000. "Strategic Choice of Partners: Research Joint Ventures and Market Power," CEPR Discussion Papers 2617, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  6. Lars-Hendrik Röller & Mikhel M. Tombak & Ralph Siebert, 1997. "Why Firms Form Research Joint Ventures: Theory and Evidence," CIG Working Papers FS IV 97-06, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Oct 1997. [Downloadable!]
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  7. 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:
  8. Pedro P. Barros & Tore Nilssen, 1999. "The Effect of Firm Heterogeneity on R&D Competition," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 25, pages 87-93. [Downloadable!]
  9. Garcia Pires, Armando José, 2006. "Losers, Winners and Prisoner's Dilemma in International Subsidy Wars," CEPR Discussion Papers 5979, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  10. van Kranenburg, Hans L. & Palm, Franz C. & Pfann, Gerard A., 2002. "Survival in a Concentrating Industry: The Case of Daily Newspapers in the Netherlands," IZA Discussion Papers 565, Institute for the Study of Labor (IZA). [Downloadable!]
  11. Philipp Weinschenk, 2009. "Persistence of Monopoly and Research Specialization," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2009_11, Max Planck Institute for Research on Collective Goods. [Downloadable!]
  12. Lars-Hendrik Röller & Mihkel M. Tombak & Ralph Siebert, 1998. "The Incentives to Form Research Joint Ventures: Theory and Evidence," CIG Working Papers FS IV 98-15, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
  13. Wagman, Liad & Conitzer, Vincent, 2008. "Choosing Fair Lotteries to Defeat the Competition," MPRA Paper 10375, University Library of Munich, Germany. [Downloadable!]
  14. H. Van Kranenburg & F. Palm & G. Pfann, 2002. "Exit and Survival in a Concentrating Industry: The Case of Daily Newspapers in the Netherlands," Review of Industrial Organization, Springer, vol. 21(3), pages 283-303, November. [Downloadable!] (restricted)
  15. Brian Wu & Anne Marie Knott, 2005. "Entrepreneurial Risk and Market Entry," The Office of Advocacy Small Business Working Papers 05bwmk, U.S. Small Business Administration, Office of Advocacy. [Downloadable!]
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