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Cooperative R&D with Endogenous Technology Differentiation

journal contribution
posted on 30.05.2006 by Maria Jose Gil-Molto, Nikolaos Georgantzis, Vicente Orts
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.

History

School

  • Business and Economics

Department

  • Economics

Pages

100670 bytes

Citation

GIL-MILTO, M.J., GEORGANTZIS, N. and ORTS, V., 2005. Cooperative R&D with Endogenous Technology Differentiation. Journal of Economics & Management Strategy, 14(2), pp.461–476

Publisher

© Blackwell

Publication date

2005

Notes

This is Restricted Access. This article was published in the journal, Journal of Economics & Management Strategy [© Blackwell] and is available at: http://www.blackwellpublishing.com/journal.asp?ref=1058-6407.

ISSN

1058-6407

Language

en

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