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On The Stability of Research Joint Ventures: Implications for Collusion

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  • Tomaso Duso,
  • Enrico Pennings
  • Jo Seldeslachts

Abstract

Though there is a body of theoretical literature on research joint venture (RJV) participation facilitating collusion, empirical tests are rare. Even more so, there are few empirical tests on the general theme of collusion. This note tries to fill this gap by assuming a correspondence between the stability of research joint ventures and collusion. By using data from the U.S. National Cooperation Research Act, we show that large RJVs in concentrated industries are more stable and hence more suspect to collusion. ZUSAMMENFASSUNG - Trotz einer Vielzahl von theoretischen Studien, die zeigen, dass Kollusion durch Forschungsallianzen erleichtert werden kann, fehlen empirische Arbeiten, die diesen Zusammenhang bestätigen. Noch erstaunlicher ist die allgemein geringe Anzahl von empirischen Untersuchungen auf dem Forschungsgebiet der Kollusion. Dieser Aufsatz versucht diese Lücke zu schließen wobei unterstellt wird, dass ein Zusammenhang zwischen der Stabilität von Joint-Ventures und der Entstehung von Kollusionen besteht. Anhand von Daten des U.S. National Cooperation Research Act zeigen wir, dass große Forschungsallianzen in stark konzentrierten Branchen stabiler und daher eher der Absprache verdächtig sind.

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Bibliographic Info

Paper provided by Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG) in its series CIG Working Papers with number SP II 2008-15.

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Length: 18 pages
Date of creation: Apr 2008
Date of revision:
Handle: RePEc:wzb:wzebiv:spii2008-15

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Keywords: Research Joint Ventures; Product Market Collusion; Empirical Test;

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References

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  1. Helder Vasconcelos, 2004. "Entry Effects on Cartel Stability and the Joint Executive Committee," Review of Industrial Organization, Springer, vol. 24(3), pages 219-241, 05.
  2. Vonortas, Nicholas S., 1997. "Research joint ventures in the US," Research Policy, Elsevier, vol. 26(4-5), pages 577-595, December.
  3. Reuer, Jeffrey J. & Zollo, Maurizio, 2005. "Termination outcomes of research alliances," Research Policy, Elsevier, vol. 34(1), pages 101-115, February.
  4. Duso, Tomaso & Pennings, Enrico & Seldeslachts, Jo, 2007. "The Dynamics of Research Joint Ventures: A Panel Data Analysis," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 221, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  5. B. Douglas Bernheim & Michael D. Whinston, 1990. "Multimarket Contact and Collusive Behavior," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 1-26, Spring.
  6. Thomas W. Ross, 2009. "Sustaining Cooperation with Joint Ventures," Journal of Law, Economics and Organization, Oxford University Press, vol. 25(1), pages 31-54, May.
  7. Eliane Catilina & Robert Feinberg, 2006. "Market Power and Incentives to Form Research Consortia," Review of Industrial Organization, Springer, vol. 28(2), pages 129-144, 03.
  8. repec:aea:jeclit:v:44:y:2006:i:1:p:43-95 is not listed on IDEAS
  9. Cabral, Luis M. B., 2000. "R&D cooperation and product market competition," International Journal of Industrial Organization, Elsevier, vol. 18(7), pages 1033-1047, October.
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