Autore
Martin, Stephen

Titolo
Private and social incentives to form r and d joint ventures
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1991 - Fascicolo: 35 - Pagina iniziale: 1 - Pagina finale: 24

R & D joint ventures induce individual firms to reduce investment in R & D, but are socially beneficial because they ensure greater competition in the post-innovation market. It is not usually optimal for ail firms to combine in a single R & D joint venture. If R & D joint ventures are formed voluntarily by firms that seek to maximize their expected value, they will not, in general, adopt the socially optimal structure of R & D joint ventures.



Testo completo: http://hdl.handle.net/1814/374

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