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Endogenous Spillovers and the Performance of Research Joint Ventures

Endogenous Spillovers and the Performance of Research Joint Ventures We present a model of R&D with endogenous spillovers and demonstrate that noncooperation can produce maximal spillovers. The only other noncooperative outcome is minimal spillovers. When noncooperation achieves maximal spillovers so does an RJV, whereas minimal noncooperative spillovers imply partial—but not necessarily maximal—spillovers by an RJV. Partial RJV spillovers are chosen for anti‐competitive reasons and an RJV may also close a lab for anti‐competitive reasons. The possibility of anti‐competitive outcomes is precluded in the existing literature on RJVs which focuses on symmetric outcomes. Our model predicts when anti‐competitive behaviour by an RJV arises. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Industrial Economics Wiley

Endogenous Spillovers and the Performance of Research Joint Ventures

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References (15)

Publisher
Wiley
Copyright
Blackwell Publishers Ltd 1998
ISSN
0022-1821
eISSN
1467-6451
DOI
10.1111/1467-6451.00075
Publisher site
See Article on Publisher Site

Abstract

We present a model of R&D with endogenous spillovers and demonstrate that noncooperation can produce maximal spillovers. The only other noncooperative outcome is minimal spillovers. When noncooperation achieves maximal spillovers so does an RJV, whereas minimal noncooperative spillovers imply partial—but not necessarily maximal—spillovers by an RJV. Partial RJV spillovers are chosen for anti‐competitive reasons and an RJV may also close a lab for anti‐competitive reasons. The possibility of anti‐competitive outcomes is precluded in the existing literature on RJVs which focuses on symmetric outcomes. Our model predicts when anti‐competitive behaviour by an RJV arises.

Journal

The Journal of Industrial EconomicsWiley

Published: Sep 1, 1998

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