Symmetric research joint ventures: cooperative substitutes and complements
We introduce the concepts of cooperative substitutes and complements, and use them to explain when all firms in a research joint venture will choose equal levels of R&D.; We show that the second-order conditions for a symmetric optimum take a particularly simple form, ruling out both excessi...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Elsevier
2005
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| Subjects: |