Cooperative R&D with moral hazard

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11 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 Aug

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics

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