Cooperative and Non-Cooperative R&D in Oligopoly: Strategic Substitutes and Complements

Kotaro Suzumura and Noriyuki Yanagawa

Discussion Paper Series from Institute of Economic Research, Hitotsubashi University

Abstract: The positive and normative effects of cooperative R&D are examined vis-a-vis non-cooperative R&D, socially second-best R&D in terms of a two-stage model of oligopolisiic competition with product differetiation. It is shown that both non-cooperative and cooperative R&D levels are socially insufficient at the margin in terms of first-best, as well as second-best, criterion if firms compete in terms of prices, irrespective of the number of firms and the extent of R&D spillovers.

Date: 1991-11
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hituec:a245

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