This paper considers the situation where some firms in an industry collude together as an RJV cartel to compete with other firms who individually engage in R&D. The analysis shows that this partial RJV cartelisation may increase market concentration. In comparison with pure R&D competition, where all firms undertake R&D independently, partial RJV cartelisation yields more effective R&D investment, higher profit and social welfare but sometimes it leads to fewer consumer benefits.Market Structure, Oligopolies, Research and Development EDIRC Provider-Institution: RePEc:edi:smlatau
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