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| Author: | Poyago-Theotoky, J. |
| Title: | Equilibrium and optimal size of a research joint venture in an olipology with spillovers |
| Journal: | Journal of Industrial Economics
1995 : JUN, VOL. 43:2, p. 209-226 |
| Index terms: | INDUSTRIAL ECONOMICS OLIGOPOLY JOINT BUSINESS VENTURES |
| Language: | eng |
| Abstract: | This paper analyses a simple oligopoly model with information spillovers. Firms spend on R&D to affect their costs of production. The main finking is that, depending on the magnitude of the spillover, the market may not provide enough incentives for the optimum degree of cooperation to take place. It is shown that the equilibrium size of an RJV is usually less than the optimum size, which requires all firms to participate in the RJV. |
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