English, Article, Journal or magazine article edition: Downstream Research Joint Venture with Upstream Market Power Constantine Manasakis; Emmanuel Petrakis

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Bookmark: http://trove.nla.gov.au/version/76786
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Downstream Research Joint Venture with Upstream Market Power
Author
  • Constantine Manasakis
  • Emmanuel Petrakis
Physical Description
  • preprint
Notes
  • In this paper, we examine how the structure of an imperfectly competitive input market affects final-good producers’ incentives to form a Research Joint Venture (RJV), in a differentiated duopoly where R&​D investments exhibit spillovers. Although a RJV is always profitable, downstream firms’ incentives for R&​D cooperation are non-monotone in the structure of the input market, with incentives being stronger under a monopolistic input supplier, whenever spillovers are low. In contrast to the hold-up argument, we also find that under non-cooperative R&​D investments and weak free-riding, final-good producers invest more when facing a monopolistic input supplier, compared with investments under competing vertical chains. Integrated innovation and competition policies are also discussed.
  • Oligopoly; Process Innovations, Research Joint Ventures
  • RePEc:crt:wpaper:0513
Language
  • English
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