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| Author: | Baumol, W. J. |
| Title: | When is inter-firm coordination beneficial? The case of innovation |
| Journal: | International Journal of Industrial Organization
2001 : APR, VOL. 19:5, p. 727-737 |
| Index terms: | INNOVATION INDUSTRIAL ORGANIZATION ECONOMIC CONDITIONS |
| Language: | eng |
| Abstract: | The central point of this paper is that, with important exceptions, coordination on innovation and on the supply of proprietary technical information to competitors can be highly beneficial to the economy, enhancing both its static efficiency and its growth. The policy implication is that regulatory agencies and the courts should exercise extreme restraint in interfering with such joint decision making, though they should maintain some degree of vigilance to ensure that it does not transform itself into anti-competitive behaviour that profits at the consumer's expense. The paper considers the following subjects: 1) Vertical price coordination as an illustration of virtuous collusion; 2) Forms of technology coordination; 3) Welfare consequences; 4) Implications for antitrust policy. |
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