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dc.creator Zhao, Kai 2015-04-29
dc.identifier.issn 2196-436X
dc.description R&D, spillover, semi-collusion, product differentiation, horizontal merger
dc.description.abstract The paper investigates firms’ behavior and outcomes (levels of cost-reducing R&D, output, profit and welfare in equilibrium) in a differentiated duopoly with process innovation. One of the important features in this paper is that spillovers operate in the R&D stage and are tied to the degree of product substitutability as well as the extent of technological proximity/alienation of the research paths leading to cost reduction. Using this feature, the paper tries to explore and compare four separate organization setups (Full Competition, Semi-collusion in Production, Semi-collusion in R&D and Full Collusion). It is found that under technological proximity, competitions at the upstream stage depress R&D investment, and firms colluding in R&D regardless of their production strategy always yield more profit and generate higher social welfare than firms colluding in output; under technological alienation, R&D cooperation may reduce firms’ interest to invest in R&D, and it is possible that firms in the Full Collusion regime produce most and generate the highest level of social welfare.
dc.format application/PDF
dc.language.iso eng
dc.publisher Centro de Investigación y Docencia Económicas
dc.relation.ispartof Latin American Economic Review, volumen 24, número1, abril de 2015
dc.rights La revista Latin American Economic Review autoriza a poner en acceso abierto de conformidad con las licencias CREATIVE COMMONS, aprobadas por el Consejo Académico Administrativo del CIDE, las cuales establecen los parámetros de difusión de las obras con fines no comerciales. Lo anterior sin perjuicio de los derechos morales que corresponden a los autores.
dc.source 2196-436X
dc.title Product competition and R&D investment under spillovers within full or partial collusion games
dc.type Artículo
dc.accessrights Acceso abierto
dc.recordIdentifier 000003212
dc.rights.license Creative Commons Reconocimiento-NoComercial-SinObraDerivada 4.0 International CC BY-NC-ND
dc.identifier.citation En: Latin American Economic Review, volumen 24, número1, abril de 2015

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