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The Incentives to Form Research Joint Ventures: Theory and Evidence

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Author Info
Lars-Hendrik Röller
Mihkel M. Tombak
Ralph Siebert

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Abstract

The literature on research joint ventures (RJVs) has emphasized internalizing spillovers and cost-sharing as motives for RJV formation. In this paper we develop two additional explanations: product market complementarities and firm heterogeneity. We analyze a model of RJVs with asymmetric firms and differentiated products. We then test these various explanations for RJV formation by estimating an endogenous switching model using data now available through the U. S. National Cooperative Research Act.

ZUSAMMENFASSUNG - (Anreize, ein Forschungs-Joint Venture zu gründen)
Die Literatur über Forschungs-Joint-Ventures (FJV) hat bisher die Internalisierung von Spillovers und die Kostenaufteilung als primäre Motive, ein FJV zu gründen, hervorgebracht. In diesem Beitrag werden zwei weitere Gründe angeführt: Produktmarktkomplementaritäten und Unternehmensheterogenitäten. Wir analysieren ein Modell über FJV mit asymmetrischen Unternehmen und differenzierten Produkten. Anschließend testen wir die verschiedenen Erklärungen, ein FJV zu gründen. Hierbei wird ein endogenes "switching" Modell geschätzt, in dem Daten von "U.S. National Cooperative Research Act" benutzt werden.

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Publisher Info
Paper provided by Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG) in its series CIG Working Papers with number FS IV 98-15.

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Length: 31 pages
Date of creation: Dec 1998
Date of revision:
Handle: RePEc:wzb:wzebiv:fsiv98-15

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Related research
Keywords: research & development; joint ventures; product market competition;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Reinganum, Jennifer F, 1983. "Uncertain Innovation and the Persistence of Monopoly," American Economic Review, American Economic Association, vol. 73(4), pages 741-48, September. [Downloadable!] (restricted)
    Other versions:
  2. Richard J. Rosen, 1991. "Research and Development with Asymmetric Firm Sizes," RAND Journal of Economics, The RAND Corporation, vol. 22(3), pages 411-429, Autumn. [Downloadable!] (restricted)
  3. Irwin, Douglas A. & Klenow, Peter J., 1996. "High-tech R&D subsidies Estimating the effects of Sematech," Journal of International Economics, Elsevier, vol. 40(3-4), pages 323-344, May. [Downloadable!] (restricted)
    Other versions:
  4. Kamien, Morton I & Muller, Eitan & Zang, Israel, 1992. "Research Joint Ventures and R&D Cartels," American Economic Review, American Economic Association, vol. 82(5), pages 1293-306, December. [Downloadable!] (restricted)
  5. Nalebuff, Barry J & Stiglitz, Joseph E, 1983. "Information, Competition, and Markets," American Economic Review, American Economic Association, vol. 73(2), pages 278-83, May. [Downloadable!] (restricted)
  6. Oliver D. Hart, 1983. "The Market Mechanism as an Incentive Scheme," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 366-382, Autumn. [Downloadable!] (restricted)
  7. Kamien, Morton I & Zang, Israel, 1993. "Competing Research Joint Ventures," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 2(1), pages 23-40, Spring.
  8. Kogut, Bruce, 1989. "The Stability of Joint Ventures: Reciprocity and Competitive Rivalry," Journal of Industrial Economics, Blackwell Publishing, vol. 38(2), pages 183-98, December. [Downloadable!] (restricted)
  9. Michael L. Katz, 1986. "An Analysis of Cooperative Research and Development," RAND Journal of Economics, The RAND Corporation, vol. 17(4), pages 527-543, Winter.
  10. De Bondt, Raymond, 1997. "Spillovers and innovative activities," International Journal of Industrial Organization, Elsevier, vol. 15(1), pages 1-28, February. [Downloadable!] (restricted)
  11. Shapiro, Carl & Willig, Robert D, 1990. "On the Antitrust Treatment of Production Joint Ventures," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 113-30, Summer. [Downloadable!] (restricted)
  12. Vickers, John, 1995. "Concepts of Competition," Oxford Economic Papers, Oxford University Press, vol. 47(1), pages 1-23, January. [Downloadable!] (restricted)
  13. Lee, Lung-Fei, 1978. "Unionism and Wage Rates: A Simultaneous Equations Model with Qualitative and Limited Dependent Variables," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(2), pages 415-33, June. [Downloadable!] (restricted)
  14. Jacquemin, Alexis, 1988. "Cooperative agreements in R&D and European antitrust policy," European Economic Review, Elsevier, vol. 32(2-3), pages 551-560, March. [Downloadable!] (restricted)
  15. Jorde, Thomas M & Teece, David J, 1990. "Innovation and Cooperation: Implications for Competition and Antitrust," Journal of Economic Perspectives, American Economic Association, vol. 4(3), pages 75-96, Summer. [Downloadable!] (restricted)
  16. Lee, Lung-Fei, 1979. "Identification and Estimation in Binary Choice Models with Limited (Censored) Dependent Variables," Econometrica, Econometric Society, vol. 47(4), pages 977-96, July. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Kaiser, Ulrich, 2001. "A simple game-theoretical framework for studying R&D expenditures and R&D cooperation," ZEW Discussion Papers 01-22, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research. [Downloadable!]
  2. Tatiana Alonso & Pedro Marín, 2004. "Research joint ventures: the role of public research institutes," Investigaciones Economicas, Fundación SEPI, vol. 28(2), pages 213-231, May. [Downloadable!]
  3. S. Goyal & J.L. Moraga, 2000. "R&D Networks," Econometric Institute Report 202, Erasmus University Rotterdam, Econometric Institute. [Downloadable!]
    Other versions:
  4. Marín Uribe, Pedro Luis & Siotis, Georges, 2002. "Public Policies Towards Research Joint Venture Formation: Designs and Outcomes," CEPR Discussion Papers 3772, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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