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The road not taken: competition and the R&D portfolio


Letina, Igor (2015). The road not taken: competition and the R&D portfolio. Working paper series / Department of Economics 127, University of Zurich.

Abstract

This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger decreases the variety of developed projects and decreases the amount of duplication of research. An increase in the intensity of competition among firms leads to an increase in the variety of developed projects and a decrease in the amount of duplication of research.

Abstract

This article examines the effects of market structure on the variety of research projects undertaken and the amount of duplication of research. A characterization of the equilibrium market portfolio of R&D projects and the socially optimal portfolio is provided. It is shown that a merger decreases the variety of developed projects and decreases the amount of duplication of research. An increase in the intensity of competition among firms leads to an increase in the variety of developed projects and a decrease in the amount of duplication of research.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Working Paper Series > Department of Economics
Dewey Decimal Classification:330 Economics
JEL Classification:L13, L22, O31
Uncontrolled Keywords:Innovation, competition, R&D portfolio, market structure
Language:English
Date:August 2015
Deposited On:02 Jul 2013 15:42
Last Modified:14 Feb 2018 08:37
Series Name:Working paper series / Department of Economics
Number of Pages:67
ISSN:1664-7041
Additional Information:Revised version
OA Status:Green
Official URL:http://www.econ.uzh.ch/static/wp/econwp127.pdf
Related URLs:http://www.econ.uzh.ch/static/workingpapers.php

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