Suzumura, Kotaro; Yanagawa, Noriyuki - Institute of Economic Research, Hitotsubashi University - 1991
The positive and normative effects of cooperative R&D are examined vis-a-vis non-cooperative R&D, socially second-best R&D in terms of a two-stage model of oligopolisiic competition with product differetiation. It is shown that both non-cooperative and cooperative R&D levels are socially...