Overlapping Ownership, R&D Spillovers, and Antitrust Policy
Bibliographic Data
| ID | 10172632 |
|---|---|
| Authors | Ángel L López (0000-0002-6432-6814, Universitat Autonòma de Barcelona), Xavier Vives (0000-0001-9110-9850, IESE Business School) |
| Year | 2018 |
| Volume | 127 |
| Issue | 5 |
| Pages | 2394-2437 |
| Publication date | 2018-12-03 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/701811 |
| OpenAlex | W3125872315 |
| Language | EN |
| Citations received | 10 |
| References cited | 42 |
This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with overlapping ownership. We show that overlapping ownership leads to internalization of rivals’ profits by firms and find that, for demand not too convex, increases in overlapping ownership increase (decrease) R&D and output for high (low) enough spillovers while they increase R&D but decrease output for intermediate levels of spillovers. There is scope for overlapping ownership to improve welfare and consumer surplus, provided that spillovers are sufficiently large. The results obtained are robust when R&D has commitment value and in a Bertrand oligopoly model with product differentiation
Cournot competition · Economic surplus · Economics · Investment (military · Market economy · Microeconomics · Monetary economics · Oligopoly · Product differentiation · Production (economics · Value (mathematics · Welfare · Global trade and economics · Merger and Competition Analysis · Politics, Economics, and Education Policy
Cross-ownership and strategic environmental corporate social responsibility under price competition
Entrepreneurial Spillovers from Corporate R&D
Exploiting homogeneity in games with non-homogeneous revenue functions
Collusive stability of cross-holding with cost asymmetry
Spillovers and strategic commitment in R&D
Common institutional ownership and R&D manipulation
Merger Review for Markets with Buyer Power
Cross‐ownership , business dynamism, and wage inequality in general equilibrium
Common Ownership, Competition, and Top Management Incentives
The Optimal Risk Choice of Cooperative and Noncooperative R&D With Cross-Ownership
| Unique citing works | 10 |
|---|---|
| Citations per year | 1.25 |
| Citation span | 2018 - 2025 (8) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 10 |