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The authors analyze the effects of R&D cartelization and research joint ventures on firms that engage in either Cournot or Bertrand competition in their product market. Research efforts, which precede production, are directed to reducing unit cost and are subject to various degrees of...
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Research and development (R&D) competition among firms has recently been extended to R&D competition involving research joint ventures. It was previously shown that in an industry conducting cost-reducing R&D followed by competition in the product market, if all firms both fully share R&D...
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