MURAL - Maynooth University Research Archive Library



    Symmetric research joint ventures: Cooperative substitutes and complements


    Leahy, Dermot (2005) Symmetric research joint ventures: Cooperative substitutes and complements. International Journal of Industrial Organization, 23 (5-6). pp. 381-397. ISSN 0167-7187

    [img]
    Preview
    Download (182kB) | Preview


    Share your research

    Twitter Facebook LinkedIn GooglePlus Email more...



    Add this article to your Mendeley library


    Abstract

    We introduce the concepts of cooperative substitutes and complements, and use them to explain when all firms in a research joint venture will choose equal levels of R&D. We show that the secondorder conditions for a symmetric optimum take a particularly simple form, ruling out both excessive cooperative substitutability and excessive cooperative complementarity, and nesting conditions already derived in the literature. Finally we apply our results to the comparison between cooperative and non-cooperative R&D, and show in an important special case that asymmetric outcomes are only optimal for a very limited range of parameter values.

    Item Type: Article
    Keywords: Bertrand and Cournot competition; Cooperative substitutes and complements; R&D; Research joint ventures; Strategic trade and industrial policy;
    Academic Unit: Faculty of Social Sciences > Economics, Finance and Accounting
    Item ID: 8463
    Identification Number: https://doi.org/10.1016/j.ijindorg.2005.01.010
    Depositing User: Dermot Leahy
    Date Deposited: 18 Jul 2017 09:45
    Journal or Publication Title: International Journal of Industrial Organization
    Publisher: Elsevier
    Refereed: Yes
    URI:

    Repository Staff Only(login required)

    View Item Item control page

    Downloads

    Downloads per month over past year