RJVs and Price Collusione under Endogenous Product Differentiation
We characterize the interplay between firm's decisions in product development, be it joint or independent, and their ensuing repeated price behaviour, either collusive or Bertrand-Nash. We prove that joint-product development and the resulting lack of horizontal differentiation may destabilise collusion, whilst firms' R&D decisions have on bearings on collusive stability in the vertical differentiation setting.
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