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Cooperative R&D with endogenous technology differentiation

Gil Molto, M. J., Georgantzis, N. and Orts, V. (2005) Cooperative R&D with endogenous technology differentiation. Journal of Economics and Management Strategy, 14 (2). pp. 461-476. ISSN 1058-6407

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To link to this item DOI: 10.1111/j.1530-9134.2005.00048.x

Abstract/Summary

We study a nontournament R&D duopoly. Before the standard R&D investment and quantity-setting stages, we consider a stage in which firms choose their R&D technologies. Spillovers negatively depend on R&D technology differentiation. We show that, in equilibrium, firms will choose identical or very similar R&D processes. Such equilibria may entail less differentiation than would be dictated by social welfare maximization.

Item Type:Article
Refereed:Yes
Divisions:No Reading authors. Back catalogue items
Faculty of Life Sciences > School of Agriculture, Policy and Development > Economic and Social Sciences Division > Food Economics and Marketing (FEM)
ID Code:34785
Publisher:Wiley

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