Research Joint Ventures And Product Innovation: Some Welfare Aspects
AbstractThis 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 InfoArticle provided by Taylor & Francis Journals in its journal Economics of Innovation and New Technology.
Volume (Year): 5 (1997)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
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- Suetens, S., 2004.
"Literature review: R&D cooperation in oligopoly with spillovers: An experimental economics approach,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-3529827, Tilburg University.
- Suetens S., 2004. "Literature review: R&D cooperation in oligopoly with spill-overs: an experimental economic approach," Working Papers 2004024, University of Antwerp, Faculty of Applied Economics.
- Mukherjee, Vivekananda & Ramani, Shyama V., 2008. "R&D cooperation, asymmetric technological capabilities and rationale for technology parks," Dresden Discussion Paper Series in Economics 11/08, Dresden University of Technology, Faculty of Business and Economics, Department of Economics.
- Versaevel, Bruno & de Villemeur, Étienne, 2003. "Conflict and Cooperation on R&D Markets," IDEI Working Papers 191, Institut d'Économie Industrielle (IDEI), Toulouse.
- Vivekananda Mukherjee & Shyama Ramani, 2011. "R&D cooperation in emerging industries, asymmetric innovative capabilities and rationale for technology parks," Theory and Decision, Springer, vol. 71(3), pages 373-394, September.
- Aikaterini KOKKINOU, 2010. "Economic growth, innovation and collaborative research and development activities," Management & Marketing, Economic Publishing House, vol. 5(1), Spring.
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