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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title The road not taken: competition and the R&D portfolio
Organization Unit
Authors
  • Igor Letina
Language
  • English
Institution University of Zurich
Series Name Working paper series / Department of Economics
Number 127
ISSN 1664-7041
Number of Pages 67
Date 2015
Abstract Text 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.
Official URL http://www.econ.uzh.ch/static/wp/econwp127.pdf
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Keywords Innovation, competition, R&D portfolio, market structure, Innovation, Forschung, Entwicklung, Marktstruktur, Wettbewerb, Investition
Additional Information Revised version