HYBRID R&D

• 成果类型: Article
• 署名作者: Goyal, Sanjeev; Moraga-Gonzalez, Jose Luis; Konovalov, Alexander
• 署名单位: University of Cambridge; University of Groningen; University of Innsbruck
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1162/JEEA.2008.6.6.1309
• 发表日期: 2008
• 页码: 1309-1338
• 关键词: research joint ventures; external linkages; product; INNOVATION; networks

摘要

We develop a model of R&D collaboration in which individual firms carry out in-house research on core activities and undertake bilateral joint projects on non-core activities with other firms. We develop conditions on the profit functions of the firm under which R&D investments in different projects of a firm are complementary. We show that this condition is met by standard price and quantity setting oligopoly models. We then study the relation between the number of joint projects and investments and profits. In this context, we identify a second aspect of complementarity: Equilibrium investments in in-house as well as in each joint project are increasing in the number of projects. However, we find that an increase in number of joint projects of all firms lowers collective profits, suggesting the presence of excessive incentives for conducting research.