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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|Date of creation:||1997|
|Contact details of provider:|| Postal: UNIVERSITY OF MICHIGAN, DEPARTMENT OF ECONOMICS CENTER FOR RESEARCH ON ECONOMIC AND SOCIAL THEORY, ANN ARBOR MICHIGAN U.S.A.|
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- De Bondt, Raymond & Veugelers, Reinhilde, 1991. "Strategic investment with spillovers," European Journal of Political Economy, Elsevier, vol. 7(3), pages 345-366, October.
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