The road not taken: competition and the R&D portfolio.
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 t...
| Published in: | RAND Journal of Economics (Wiley-Blackwell) Vol. 47; no. 2; pp. 433 - 461 |
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| Format: | Article |
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Wiley-Blackwell
Summer2016
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| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=114712573&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 114712573 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 07416261 56RJ jtl: RAND Journal of Economics (Wiley-Blackwell) issn: 07416261 maglogo: Y pubinfo: dt: Summer2016 vid: 47 iid: 2 pid: 480 pub: Wiley-Blackwell artinfo: ui: 114712573 10.1111/1756-2171.12133 ppf: 433 ppct: 28 formats: fmt: – @attributes: type: T – @attributes: type: P size: 603KB tig: atl: The road not taken: competition and the R&D portfolio. aug: au: Letina, Igor affil: University of Zurich su: Economic competition Research & development Portfolio management (Investments) Market design & structure (Economics) Innovations in business sug: subj: Economic competition Portfolio Management Research and Development in Biotechnology Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology) Research & development Portfolio management (Investments) Market design & structure (Economics) Innovations in business ab: 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. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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