Collaborative Innovation (or Not?!) when Product Performance is Critical
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Date
2021-01-05
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6535
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Research and development (R&D) collaborations are horizontal agreements among firms to join forces in their inventive activities. As in the context of the recent COVID-19 global pandemic, such collaborations are often promoted with an argument of increased R&D productivity. In numerous contexts, especially when marginal production costs are low, such as for medications or for software, the consumers' surplus depends critically on the best-performing product available on the market, for -- all else equal -- this product will tend to take a dominant position. Using a simple two-stage model of innovation and subsequent product commercialization on a market with heterogeneous consumers, we show that a noncollaborative patent race with patent protection (for the best product) provides strong innovation incentives, leading to better performing products than a regime of either noncollaborative research without patent protection or collaborative research (with profit sharing).
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Strategy, Information, Technology, Economics, and Society (SITES), covid-19, patent race, product commercialization, research collaboration
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8 pages
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Proceedings of the 54th Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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