R&D cooperation and growth
成果类型：
Article
署名作者：
Cozzi, G
署名单位：
Cornell University; Sapienza University Rome
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1998.2502
发表日期：
1999
页码：
17-49
关键词：
摘要：
If R&D produces nonrival inputs then firms have an incentive to cooperate, but free riding can make cooperation difficult. This paper builds a simple endogenous growth model allowing cooperative behavior among firms in their R&D game. growth Industry's first best cooperative investment is enforceable as an equilibrium only if technology is above a threshold level. This model allows for switching equilibria able to sustain slower growth in poorer countries. The model also admits sunspot equilibria. In a world where the production of ideas is important multiplicity and variability of economic performance can be relevant. (C) 1999 Academic Press.