Original scientific paper
https://doi.org/10.1080/1331677X.2018.1432373
The impact of spillovers on strategic R&D under uncertainty
Mingqing Xing
orcid.org/0000-0003-3962-7727
; School of Economics and Management and Neural Decision Science Laboratory, Weifang University, Weifang, China
Abstract
This study examines the impact of technological spillovers on
competitive and cooperative R&D investments under uncertainty.
It assumes that the innovation size is given and an increase in
R&D expenditure increases the probability of success. It focuses
on the symmetric equilibrium and finds that: (i) the equilibrium
R&D expenditure under R&D competition (resp. R&D cooperation)
may increase (resp. decrease) with the degree of spillovers if the
spillovers are sufficiently small, the innovation size is big enough and
the probability of success is high (resp. low) enough; (ii) under R&D
competition the privately optimal R&D expenditure may overshoot
the social optimum if the spillovers are sufficiently small; (iii) under
R&D cooperation the private optimum is socially insufficient regardless
of the size of spillovers.
Keywords
R&D competition; R&D cooperation; uncertainty; technological spillover
Hrčak ID:
200681
URI
Publication date:
3.12.2018.
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