R&D: Competition, Risk, and Performance

Herman C. Quirmbach

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Anticipated post-innovation collusion encourages R&D effort, but realized collusion later yields deadweight losses. In balancing this trade-off, Bertrand industries sometimes outperform Cournot; sometimes not. Both usually out perform perfectly collusive industries. The optimal level of collusion is often less collusive than Cournot duopoly...

Date: 1991-03-01
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