On the incentives for cooperative research |
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| Affiliation: | 1. Department of Economics, Sam M. Walton College of Business, Business Building 402, Fayetteville, AR 72701-1201, USA;2. Chapman University, USA;3. RAND Corporation, 1776 Main Street, P.O. Box 2138, Santa Monica, CA 90407-2138, USA;1. Department of Accounting, Lubin School of Business, Pace University, 1 Pace Plaza, 4th Floor, New York, NY 10038, United States;2. #601 LP Hall, KUBS, Korea University, Anam-ro Sungbuk-gu, Seoul 02841, Republic of Korea;3. Department of Accountancy, Bentley University, 175 Forest Street, Waltham, MA 02452, United States;1. Department of Accounting and Corporate Governance, Faculty of Business and Economics, Macquarie University, Ryde, NSW 2109, Australia;2. Department of Business Studies, Università degli Studi RomaTre, Rome, Italy |
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| Abstract: | This paper analyzes incentives for cooperative research for firms competing in the product market. Contrary to the literature, we portray situations to show that non-cooperative R&D can occur even if the probability of success in R&D is large. We then model synergy in cooperative R&D and show that when the innovation size is large, cooperative research is likely to occur. |
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