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- Title
Cooperative R&D with Endogenous Technology Differentiation.
- Authors
Moltó, María José Gil; Georgantzís, Nikolaos; Orts, Vicente
- Abstract
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.
- Subjects
RESEARCH &; development; INVESTMENTS; TECHNOLOGY; RESEARCH &; development partnership; PUBLIC welfare
- Publication
Journal of Economics & Management Strategy, 2005, Vol 14, Issue 2, p461
- ISSN
1058-6407
- Publication type
Article
- DOI
10.1111/j.1530-9134.2005.00048.x