Cooperative R&D with moral hazard

Research output: Contribution to journalArticle

10 Citations (Scopus)

Abstract

In cooperative R&D, a noncontractible input is underprovided due to participants' moral hazard problem. However, the first-best outcome can be approached as two inputs, one contractible and the other noncontractible, become more complementary to each other.

Original languageEnglish
Pages (from-to)485-491
Number of pages7
JournalEconomics Letters
Volume39
Issue number4
DOIs
Publication statusPublished - 1992 Jan 1

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Moral hazard

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics
  • Finance

Cite this

Choi, Jay Pil. / Cooperative R&D with moral hazard. In: Economics Letters. 1992 ; Vol. 39, No. 4. pp. 485-491.
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Cooperative R&D with moral hazard. / Choi, Jay Pil.

In: Economics Letters, Vol. 39, No. 4, 01.01.1992, p. 485-491.

Research output: Contribution to journalArticle

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