ENDOGENOUS FORMATION OF COMPETITIVE RESEARCH SHARING JOINT VENTURES*
研究了研发共享合资企业的形成条件，发现当溢出效应低时，大型合资企业更有利且最多形成三个；低溢出时合资企业改善福利，高溢出时则应禁止。
Research sharing is an important objective of many research joint ventures. When partners share R&D but do not maximize joint profits, large consortia are more profitable than small ones, and joint ventures prefer dispersed rivals. For much of the spillover space, a coalition formation game that permits limited membership predicts that at most, three joint ventures form. Research-sharing joint ventures improve welfare when spillovers are low, and banning research sharing joint ventures is beneficial for high spillovers. With imperfect research sharing and low spillovers, allowing only research sharing is the best industry-wide joint venture alternative for consumer surplus.