Optimal Asymmetric Strategies in Research Joint Ventures

Stephen Salant and G. Shaffer

Working Papers from Michigan - Center for Research on Economic & Social Theory

Abstract: This paper identies an overlooked implication of models of research joint ventures initiated by d'Aspremont and Jacquemin (1988). Even though the a ggregate R&D cost of identical rms in a research joint venture would be lowest if they invested equally to re- duce subsequent production costs, nonetheless members may often enlarge their overall joint prot by making unequal investments.

Keywords: RESEARCH AND DEVELOPMENT; ENTERPRISES (search for similar items in EconPapers)
JEL-codes: O30 O32 (search for similar items in EconPapers)
Pages: 17 pages
Date: 1997
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Journal Article: Optimal asymmetric strategies in research joint ventures (1998)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:michet:97-06

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