This paper identies an overlooked implication of models of research joint ventures initiated by d'Aspremont and Jacquemin (1988). Even though the a ggregate R&D cost of identical rms in a research joint venture would be lowest if they invested equally to re- duce subsequent production costs, nonetheless members may often enlarge their overall joint prot by making unequal investments.
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Paper provided by Michigan - Center for Research on Economic & Social Theory in its series Papers with number
97-06.
Length: 17 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:michet:97-06
Contact details of provider: Postal: UNIVERSITY OF MICHIGAN, DEPARTMENT OF ECONOMICS CENTER FOR RESEARCH ON ECONOMIC AND SOCIAL THEORY, ANN ARBOR MICHIGAN U.S.A.
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Find related papers by JEL classification: O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D
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