Do research joint ventures serve a collusive function?

Goerree, Michelle S. ; Helland, Eric

Document Type: Working paper
Year of publication: 2012
The title of a journal, publication series: Working Paper / Institute for Empirical Research in Economics, University of Zürich
Volume: 448
Place of publication: Zürich
Publishing house: Institute for Empirical Research in Economics
ISSN: 1424-0459
Related URLs:
Publication language: English
Institution: School of Law and Economics > Empirische Industrieökonomik, Angewandte Gesundheitsökonomik (Sovinsky 2015-)
Subject: 330 Economics
Classification: JEL: L24 , L44 , K21 , O32,
Keywords (English): research and development , research joint ventures , antitrust policy, collusion
Abstract: Every year thousands of firms are engaged in research joint ventures (RJV), where all knowl-edge gained through R&D is shared among members. Most of the empirical literature assumes members are non-cooperative in the product market. But many RJV members are rivals leaving open the possibility that firms may form RJVs to facilitate collusion. We exploit variation in RJV formation generated by a policy change that affects the collusive benefits but not the research synergies associated with an RJV. We estimate an RJV participation equation and find the decision to join is impacted by the policy change. Our results are consistent with research joint ventures serving a collusive function.

Dieser Eintrag ist Teil der Universitätsbibliographie.

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