Cooperative R&D with Endogenous Technology Differentiation

Maria Gil Molto, Nikolaos Georgantzís () and Vicente Orts

Journal of Economics & Management Strategy, 2005, vol. 14, issue 2, 461-476

Abstract: We study a nontournament R&D duopoly. Before the standard R&D investment and quantity‐setting stages, we consider a stage in which firms choose their R&D technologies. Spillovers negatively depend on R&D technology differentiation. We show that, in equilibrium, firms will choose identical or very similar R&D processes. Such equilibria may entail less differentiation than would be dictated by social welfare maximization.

Date: 2005
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https://doi.org/10.1111/j.1530-9134.2005.00048.x

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Working Paper: Cooperative R&D with Endogenous Technology Differentiation (2004)
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