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Cooperative and non-cooperative R&D in product innovation and firm performance

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Veröffentlicht in: Journal of business economics and management 20(2019), 6, Seite 1121-1142
Personen und Körperschaften: Karbowski, Adam (VerfasserIn)
Titel: Cooperative and non-cooperative R&D in product innovation and firm performance/ Adam Karbowski
Format: E-Book-Kapitel
Sprache: Englisch
veröffentlicht:
2019
Gesamtaufnahme: : Journal of business economics and management, 20(2019), 6, Seite 1121-1142
, volume:20
Schlagwörter:
Quelle: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
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Zusammenfassung: The aim of this article is to investigate the impacts of cooperative and non-cooperative R&D strategies on product innovation and firm performance. Based on the industrial economics literature and the optimisation model, R&D competition, R&D cartelisation, and full industry cartelisation strategies of firms operating on a market with differentiated goods and simultaneous price and quality competition are considered. It is showed that R&D cartelisation entails a loss of firm's product innovation compared with R&D competition. However, profit-maximising firms do not prefer the R&D competition strategy. They prefer to pursue either R&D cartelisation or full industry cartelisation strategies, depending on the elasticity of demand with respect to the firm's investment in R&D. The social cost of R&D cartelisation is a loss of product innovation, and the social cost of full industry cartelisation is both the loss of product innovation and the loss of consumer surplus due to a relatively high price and low output of the final product. The latter results carry significant implications for the modern business and public policy.
ISSN: 2029-4433
Zugang: Open Access