Liu, Yi; O'Reilly-Allen, Margaret; Zantout, Zaher - In: American Journal of Economics and Sociology 66 (2007) 5, pp. 985-1004
Cooperative R&D and production joint ventures may enable firms to achieve significant cost efficiencies. However, they can also be a means of controlling industry output and raising product prices. A review of the literature on the welfare implications of allowing rival firms to cooperate in the...