We reconsider the justifications of R&D subsidies by Spencer and Brander (1983) and others by allowing firms to pool R&D investments and license innovations. In equilibrium R&D joint ventures are formed and licensing occurs in a way that eliminates the strategic benefits of R&D investment in the...

The aim of this paper is to provide a microeconometric analysis of the impact of research joint venture participation on productivity, using a large panel of around 6200 firms. The findings of the theoretical literature on this topic are ambiguous and there are very few empirical papers...

A model is developed that analyzes the effects of uncertainty on the behavior of research and production joint ventures.Following a literature review, the research and development (R&D) environment is defined, and the model, which assumes that joint venture formation, R&D investment, and market...