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Discussion Paper Details

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Title: Why Firms Form Research Joint Ventures: Theory and Evidence

Author(s): Lars-Hendrik Röller, Ralph Siebert and Mihkel Tombak

Publication Date: May 1997

Keyword(s): Joint Ventures, Product Market Competition and Research And Development

Programme Area(s): Industrial Organization

Abstract: The literature on research joint ventures (RJVs) has emphasized internalizing spillovers and cost-sharing as motives for RJV formation. In this paper we develop two additional explanations: product market complementarities and firm heterogeneity. We analyse a model of RJVs with asymmetric firms and differentiated products. We then test these various explanations for RJV formation using data now available through the US National Cooperative Research Act.

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Bibliographic Reference

Röller, L, Siebert, R and Tombak, M. 1997. 'Why Firms Form Research Joint Ventures: Theory and Evidence'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=1654