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The road not taken: competition and the R&D portfolio

Igor Letina

No 127, ECON - Working Papers from Department of Economics - University of Zurich

Abstract: This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger decreases the variety of developed projects and decreases the amount of duplication of research. An increase in the intensity of competition among firms leads to an increase in the variety of developed projects and a decrease in the amount of duplication of research.

Keywords: Innovation; competition; R&D portfolio; market structure (search for similar items in EconPapers)
JEL-codes: L13 L22 O31 (search for similar items in EconPapers)
Date: 2013-07, Revised 2015-08
New Economics Papers: this item is included in nep-com, nep-cse, nep-ino, nep-ppm and nep-tid
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Related works:
Journal Article: The road not taken: competition and the R&D portfolio (2016) Downloads
Working Paper: The road not taken: competition and the R&D portfolio (2013) Downloads
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