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Public Policy Towards R&D; in Oligopolistic Industries.

Abstract:

This paper examines the free-market and socially-optimal outcomes in a dynamic oligopoly model with R&D; spillovers. First-best optimal subsidies to R&D; are higher when firms play strategically against each other, but lower when they cooperate on R&D; (at least with high spillovers) and when they play strategically against the government. Second-best optimal subsidies to R&D; are presumptively higher than first-best ones, but policies to encourage cooperation are likely to be...

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Authors


Dermot Leahy More by this author
Volume:
1243
Publication date:
1995
URN:
uuid:bbcc4466-4389-400b-a342-6f342aa108ff
Local pid:
oai:economics.ouls.ox.ac.uk:11709
Language:
English

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