Article Dans Une Revue PLoS ONE Année : 2020

Competition and private R&D investment

Résumé

We investigate the determinants of the sign of Research and Development reaction functions of rival firms. Using a two-stage n-firm Cournot competition game, we show that this sign depends on four types of environments in terms of product rivalry and technology spillovers. We test the predictions of the model on the world's largest manufacturing corporations. Assuming that firms make R&D investments based on the R&D effort of the representative rival company, we develop a dynamic panel data model that accounts for the endogeneity of the decision of the rival firm. Empirical results thoroughly corroborate the validity of the theoretical model.

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hal-03042941 , version 1 (07-12-2020)

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Thomas Grebel, Lionel Nesta. Competition and private R&D investment. PLoS ONE, 2020, 15, ⟨10.1371/journal.pone.0232119⟩. ⟨hal-03042941⟩
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