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Symmetrical Research Joint Ventures: Cooperative Substitutes and Complements.

Abstract:

We introduce the concept of cooperative substitutes and complements, and use it to throw light on the conditions for a research joint venture to choose equal levels of R&D; by all member firms. We show that the second-order conditions for a symmetric optimum take a particularly simple form, ruling out both excessive cooperative substitutability and excessive cooperative complementarity, and nesting conditions already derived in the literature. Finally we explore the implications of our re...

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Dermot Leahy More by this author
J. Peter Neary More by this author
Volume:
4497
Publication date:
2004
URN:
uuid:bdf124d4-9779-4d6c-9884-595d3c9a6da9
Local pid:
oai:economics.ouls.ox.ac.uk:11713
Language:
English

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