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Research among Copycats: R&D, Spillovers, and Feedback Strategies

Smrkolj, Grega; Wagener, Florian - 2014

production at different times. We discern the impact of knowledge spillovers on the investments in existing markets, as well as … between spillovers, R&D efforts, and surpluses is non-monotonic and dependent on both the relative and absolute efficiency of … firms. Larger spillovers increase the likelihood that a new technology is brought to production, but they do not necessarily …

Persistent link: https://www.econbiz.de/10010491339

In Defense of Trusts: R&D Cooperation in Global Perspective

Hinloopen, Jeroen; Smrkolj, Grega; Wagener, Florian - 2013

We examine the trade-off between the benefits of allowing firms to cooperate in R&D and the corresponding increased potential for product market collusion. For that we utilize a dynamic model of R&D whereby we consider all possible initial marginal cost levels (technologies), including those...

Persistent link: https://www.econbiz.de/10010326462

R&D Cooperatives and Market Collusion: A Global Dynamic Approach

Hinloopen, Jeroen; Smrkolj, Grega; Wagener, Florian - 2016

We present a continuous-time generalization of the seminal R&D model of d’Aspremont and Jacquemin (American Economic Review, 1988) to examine the trade-off between the benefits of allowing firms to cooperate in R&D and the corresponding increased potential for product market collusion. We...

Persistent link: https://www.econbiz.de/10011526125

R&D Cooperatives and Market Collusion: A Global Dynamic Approach

Hinloopen, Jeroen; Smrkolj, Grega; Wagener, Florian - 2017

We present a continuous-time generalization of the seminal R&D model of d'Aspremont and Jacquemin (The American Economic Review 78(5): 1133–1137, 1988) to examine the trade-off between the benefits of allowing firms to cooperate in R&D and the corresponding increased potential for product...

Persistent link: https://www.econbiz.de/10011662518

Dynamic Efficiency of Product Market Competition : Cournot versus Bertrand

Hinloopen, Jeroen; Vandekerckhove, Jan - 2008

spillovers are substantial, and when goods are not too differentiated. The range of cases for which total surplus under Cournot …

Persistent link: https://www.econbiz.de/10014221104

Prices, Product Differentiation, and Heterogeneous Search Costs

Moraga-González, José L.; Sándor, Zsolt; … - 2014

We study price formation in the standard model of consumer search for differentiated products but allow for search cost heterogeneity. In doing so, we dispense with the usual assumption that all consumers search at least once in equilibrium. This allows us to analyze the manner in which prices...

Persistent link: https://www.econbiz.de/10010491314

Detailed Data and Changes in Market Structure: The Move to Unmanned Gasoline Service Stations

Bruzikas, Tadas; Soetevent, Adriaan R. - 2014

We illustrate the impact of detailed data in empirical economic research by considering how the increased data availability has changed the scope and focus of studies on retail gasoline pricing. We show how high-volume, high-frequency price data help to identify and explain long-term trends...

Persistent link: https://www.econbiz.de/10010491352

Consumer Search and Prices in the Automobile Market

Moraga-González, José Luis; Sándor, Zsolt; … - 2015

In many markets consumers have imperfect information about the utility they derive from the products that are on offer and need to visit stores to find the product that is the most preferred. This paper develops a discrete-choice model of demand with optimal consumer search. Consumers first...

Persistent link: https://www.econbiz.de/10010491419

Pricing, Consumer Search and the Size of Internet Markets

Janssen, Maarten C.W.; Moraga, Jose Luis - 2000

Despite the mixed empirical evidence, many economists stillhold to the view that Internet will promote competition betweenfirms,thereby lowering prices and increasing economic welfare. This paperpresents a search model that provides a different view. We analyzethemarket for a homogeneous good...

Persistent link: https://www.econbiz.de/10010324437

Adoption of Superior Technology in Markets with Heterogeneous Network Externalities and Price Competition

Janssen, Maarten C.W.; Mendys, Ewa - 2000

In this paper we investigate whether markets with heterogeneous network externalities can belocked-in by old technologies even if superior technologies are available. Heterogeneous networkexternalities are present when some consumers care more about the size of the market share of agood than...

Persistent link: https://www.econbiz.de/10010324596