Optimal asymmetric strategies in research joint ventures
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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- Theodore C. Bergstrom & Hal R. Varian, 1985. "When Are Nash Equilibria Independent of the Distribution of Agents' Characteristics?," Review of Economic Studies, Oxford University Press, vol. 52(4), pages 715-718.
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