Goed nieuws voor Michael König! Zijn artikel, getiteld “Endogenous Technology Spillovers in Dynamic R&D Networks” (coauteurs Chih-Sheng Hsieh en Xiaodong Liu) is geaccepteerd voor publicatie in het RAND Journal of Economics. Een korte samenvatting (in het Engels) is hieronder te vinden.
Abstract
We introduce a stochastic R&D network formation model where firms choose both R&D efforts and collaboration partners. Neighbors in the network benefit from each other’s R&D efforts through local technology spillovers, and there exists a global competition effect reflecting strategic substitutability in R&D efforts. We provide a complete equilibrium characterization of the network formation model and show that the model is consistent with empirically observed R&D networks. Based on the equilibrium characterization, we propose an estimation method that is computationally feasible even for large networks. With the estimated model we then conduct an analysis of R&D collaboration subsidies to demonstrate the policy relevance of this model. We find that a subsidy scheme targeting specific R&D collaborations in the network can be much more effective than a uniform subsidy, with a welfare gain up to five times larger than the cost of the subsidy.
Een eerdere versie van het artikel is hier te lezen (Engelstalig).
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