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Sequencing R&D decisions with a consumer-friendly firm and spillovers
The Japanese Economic Review ( IF 1.5 ) Pub Date : 2019-12-09 , DOI: 10.1007/s42973-019-00028-5
Mariel Leal , Arturo García , Sang-Ho Lee

This study considers a duopoly model in which both a consumer-friendly (CF) firm and a for-profit (FP) firm undertake cost-reducing R&D investments in an endogenous R&D timing game and then play Cournot output competition. When the CF firm chooses its profit-oriented consumer-friendliness, we show that the consumer-friendliness is non-monotone in spillovers under both simultaneous move and sequential move with FP firm’s leadership while it is decreasing under sequential move with CF firm’s leadership. We also show that a simultaneous-move outcome is a unique equilibrium when the spillovers are low and the CF firm invests higher R&D and obtains higher profits. When the spillovers are not low, two sequential-move outcomes appear and the CF firm might obtain lower profits with higher spillovers under the CF firm leadership.



中文翻译:

与一家对消费者友好的公司和溢出效应对研发决策进行排序

本研究考虑了双头垄断模型,其中消费者友好型(CF)公司和营利性(FP)公司都在内生的研发时间博弈中进行降低成本的研发投资,然后进行古诺产出竞争。当CF公司选择以利润为导向的消费者友好型时,我们表明,在FP公司领导层同时移动和顺序移动时,消费者友好性在溢出中不是单调的,而在CF公司领导层的连续移动和顺行移动中,消费者友好性却在下降。我们还表明,当溢出率较低且CF公司投资更高的R&D并获得更高的利润时,同时移动的结果是唯一的均衡。当溢出量不低时,会出现两个连续移动的结果,并且CF公司在CF公司领导下可能会获得较高的溢出量而获得较低的利润。

更新日期:2019-12-09
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