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Effects of One-Way Spillovers on Market Shares, Industry Price, Welfare, and R & D Cooperation (1999)

Amir, Rabah ; Wooders, John

Oxford, UK : Blackwell Publishing Ltd.

Journal of economics & management strategy 8 (1999), S. 0

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ISSN: 1530-9134

Source: Blackwell Publishing Journal Backfiles 1879-2005

Topics: Economics

Notes: With one-way spillovers, the standard symmetric two-period R&D model leads to an asymmetric equilibrium only, with endogeneous innovator and imitator roles. We show how R&D decisions and measures of firm heterogeneity—market shares, R&D shares, and profits—depend on spillovers and on R&D costs. While a joint lab always improves on consumer welfare, it yields higher profits, cost reductions, and social welfare only under extra assumptions, beyond those required with multidirectional spillovers. Finally, the novel issue of optimal R&D cartels is addressed. We show an optimal R&D cartel may seek to minimize R&D spillovers between its members.

Type of Medium: Electronic Resource

URL: http://dx.doi.org/10.1111/j.1430-9134.1999.00223.x

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