Competing or Colluding in a Stochastic Environment

This paper analyses collusion by innovative firms and the role of patents in a continuous-time real options framework. A patent-investment race model is formulated in which innovative firms bargain and reach collusive agreements. It is shown that, while collusion always delays innovation, it does not necessarily delay competition. Depending on a number of factors, collusion can actually accelerate competitio

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Year of publication:	2006-07-04
Authors:	Breccia, Adriana ; Salgado-Banda, Hector
Institutions:	Society for Computational Economics - SCE

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Extent:	application/pdf
Series:	Computing in Economics and Finance 2006.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series Computing in Economics and Finance 2006 Number 423
Classification:	C7 - Game Theory and Bargaining Theory ; D8 - Information and Uncertainty ; K4 - Legal Procedure, the Legal System, and Illegal Behavior ; L1 - Market Structure, Firm Strategy, and Market Performance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005706181