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Research Joint Ventures And Product Innovation: Some Welfare Aspects

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  • Joanna Poyago-Theotoky

Abstract

This paper considers a model of horizontal and vertical product differentiation. Firms spending on R&D may improve the quality of their product. K&D cooperation in the fort11 of a RJV among a subset of innovating firms introduces the possibility of a much better product being produced relative to the case of non-cooperation in K&D. Given Bertrand competition in the product market the RJV sets a common price for the improved good. It is shown that. even under this extreme form of cooperation, there are clear instances where social welfare is enhanced relative to the non-cooperative outcome.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.

Volume (Year): 5 (1997)
Issue (Month): 1 ()
Pages: 51-73

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Handle: RePEc:taf:ecinnt:v:5:y:1997:i:1:p:51-73

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Related research

Keywords: Product innovation; horizontal and vertical differentiation; R&D cooperation; welfare comparison; J.E.L. Class. Nos.: 030; D43; L13;

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Cited by:
  1. SUETENS, Sigrid, 2004. "Literature review: R&D cooperation in oligopoly with spillovers: An experimental economics approach," Working Papers, University of Antwerp, Faculty of Applied Economics 2004024, University of Antwerp, Faculty of Applied Economics.
  2. Aikaterini KOKKINOU, 2010. "Economic growth, innovation and collaborative research and development activities," Management & Marketing, Economic Publishing House, Economic Publishing House, vol. 5(1), Spring.
  3. Versaevel, Bruno & de Villemeur, Étienne, 2003. "Conflict and Cooperation on R&D Markets," IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse 191, Institut d'Économie Industrielle (IDEI), Toulouse.
  4. Mukherjee, Vivekananda & Ramani, Shyama V., 2008. "R&D cooperation, asymmetric technological capabilities and rationale for technology parks," Dresden Discussion Paper Series in Economics, Dresden University of Technology, Faculty of Business and Economics, Department of Economics 11/08, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
  5. Vivekananda Mukherjee & Shyama Ramani, 2011. "R&D cooperation in emerging industries, asymmetric innovative capabilities and rationale for technology parks," Theory and Decision, Springer, Springer, vol. 71(3), pages 373-394, September.

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