Article ID Journal Published Year Pages File Type
10437770 Journal of Economic Behavior & Organization 2005 28 Pages PDF
Abstract
In the first part of this paper, we conduct an empirical analysis of all research joint ventures registered under the National Cooperative Research Act. We document the pervasiveness of multiproject contact, defined as groups of firms engaging in several research joint ventures together. In the second part of the paper, we develop a theoretical model providing a new rationale for multiproject contact. In the model, each project involves decisions that are the subject of negotiations among participants. The inefficiency associated with bargaining under asymmetric information can be mitigated if negotiations over several projects are combined.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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