A DYNAMIC ANALYSIS OF COOPERATIVE RESEARCH IN THE SEMICONDUCTOR INDUSTRY*
构建动态寡头模型分析研究合资企业（RJVs）的利弊，利用半导体行业数据量化评估其对福利的影响，并探讨产品市场竞争变化如何影响研发合作。
In this article I construct a dynamic oligopoly model of research joint ventures (RJVs) where firms, investing to improve product quality, fully share the rewards of research success. RJVs benefit firms by eliminating duplicative research efforts, but firms also give up the possibility of becoming a solo innovator. Consumers benefit from lower prices, but may have to wait longer for new products to arrive. I show that RJVs are welfare enhancing by quantitatively evaluating these trade-offs with data from the semiconductor industry. I also analyze how changes in product market competition affect research cooperation.