Symmetric research joint ventures: Cooperative substitutes and complements

Arbeitspapier

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 results for the comparison between research joint ventures and a non-cooperative equilibrium.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Centre for Economic Research Working Paper Series ; No. WP04/17

Classification and Topics

• Classification: Wirtschaft ; Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection ; Oligopoly and Other Imperfect Markets ; Antitrust Issues and Policies: General
• Subject: Bertrand and Cournot competition ; cooperative substitutes and complements ; R&D ; research joint ventures ; strategic trade and industrial policy ; Forschungskooperation ; Industrielle Forschung ; Wettbewerbstheorie

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Leahy, Dermot ; Neary, James Peter
• Event: Veröffentlichung
• (who): University College Dublin, Department of Economics
• (where): Dublin
• (when): 2004

Further information

• Handle: http://hdl.handle.net/10419/72420
• Last update: 10.03.2025, 11:43 AM CET