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R&D Subsidies, Spillovers and Privatization in Mixed Markets

Gil-Moltó, MJ, Poyago-Theotoky, J and Zikos, V R&D Subsidies, Spillovers and Privatization in Mixed Markets .

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We examine the use of subsidies to R&D in a mixed and a private duopoly market. We show that the socially optimal R&D subsidy is increasing in the degree of spillovers but it is lower in the private duopoly. The optimal R&D subsidy leads to an increase in total R&D and production, however, it does not lead to the equalisation of per fi?rm output and therefore to an efficient distribution of production costs. We also find that privatization of the public firm reduces R&D activity and welfare in the duopoly market. This result stands even when optimal R&D subsidies are provided.

Item Type: Other
Divisions : Surrey research (other units)
Authors :
Gil-Moltó, MJ
Poyago-Theotoky, J
Uncontrolled Keywords : L31, L32, O38, L13, L50., Keywords: mixed duopoly, process innovation, R&D subsidies, privatization, spillovers.
Depositing User : Symplectic Elements
Date Deposited : 16 May 2017 15:14
Last Modified : 23 Jan 2020 10:28

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