R&D Networks: Theory, Empirics, and Policy Implications

• 成果类型: Article
• 署名作者: Konig, Michael D.; Liu, Xiaodong; Zenou, Yves
• 署名单位: Vrije Universiteit Amsterdam; University of Colorado System; University of Colorado Boulder; Monash University
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/rest_a_00762
• 发表日期: 2019-07
• 页码: 476-491
• 关键词: models; spillovers; subsidies

摘要

We analyze a model of R&D alliance networks where firms are engaged in R&D collaborations that lower their production costs while competing on the product market. We provide a complete characterization of the Nash equilibrium and determine the optimal R&D subsidy program that maximizes total welfare. We then structurally estimate this model using a unique panel of R&D collaborations and annual company reports. We use our estimates to study the impact of targeted versus nondiscriminatory R&D subsidy policies and empirically rank firms according to the welfare-maximizing subsidies they should receive.