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R&D Returns, Market Structure and Research Joint Ventures

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Author Info

  • Rabah Amir

    (University of Southern Denmark)

Abstract

A two period R&D symmetric Cournot duopoly game with linear demand and costs is analysed under linear (or more general) returns to scale in process R&D. Subgame-perfect equilibrium may call for one firm to fully innovate while the other firm remains just as before. The outcome is a polar duopoly or monopoly (one firm endogenously exiting. Two RJV schemes are compared to the noncooperative solution. Due to built-in symmetry, a joint lab RJV does not always lead to the best performance. Nonetheless, whenever a joint lab innovates, it yields the highest welfare. Overall, our findings differ substantially from those based on strongly decreasing R&D returns and symmetric outcomes.

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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics. Centre for Industrial Economics in its series CIE Discussion Papers with number 1999-07.

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Length: 20 pages
Date of creation: May 1999
Date of revision:
Publication status: Published in: Journal of Institutional and Theoretical Economics, 156(4), 583-598, 2000
Handle: RePEc:kud:kuieci:1999-07

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Web page: http://www.econ.ku.dk/cie/
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Related research

Keywords: strategic R&D; dominated strategies; asymmetric equilibria; research joint venture;

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Cited by:
  1. Arpita Chatterjee, 2014. "Endogenous Comparative Advantage, Gains From Trade and Symmetry-Breaking," Discussion Papers 2014-18, School of Economics, The University of New South Wales.
  2. AMIR, Rabah & GARCIA, Filomena & KNAUFF, Malgorzata, 2006. "Endogenous heterogeneity in strategic models: symmetry-breaking via strategic substitutes and nonconcavities," CORE Discussion Papers 2006008, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Yasunori Ouchida & Daisaku Goto, 2014. "Environmental Research Joint Ventures and Time-Consistent Emission Tax," Working Papers 2014.35, Fondazione Eni Enrico Mattei.

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