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Multi-market competition, R&D, and welfare in oligopoly

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  • Akio Kawasaki
  • Ming Hsin Lin
  • Noriaki Matsushima

Abstract

We investigate a multi-market Cournot model with strategic process R&D investments wherein a multi-market monopolist meets entrants that enter one of the markets. We find that entry can enhance the total R&D expenditure of the incumbent firm. That is, entry can stimulate R&D effort. Moreover, the incumbent's profit nonmonotonically changes as the number of entrants increases. Depending on the fixed entry costs and R&D technologies, both insufficient and excess entrycan appear.

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File URL: http://www.iser.osaka-u.ac.jp/library/dp/2010/DP0796.pdf
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Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0796.

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Date of creation: Oct 2010
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Handle: RePEc:dpr:wpaper:0796

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  1. Okuno-Fujiwara, Masahiro & Suzumura, Kotaro, 1993. "Symmetric Cournot Oligopoly and Economic Welfare: A Synthesis," Economic Theory, Springer, Springer, vol. 3(1), pages 43-59, January.
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