In the standard two-stage framework of R&D/product market competition, the present note compares the performance of full cooperation (firms conduct R&D in a joint lab and collude in the product market) and full competition (firms compete in R&D as well as in the product market). The paper shows that (ⅰ) full cooperation leads to better results in terms of R&D efforts compared with non-cooperation; (ⅱ) collusion at the production stage may increase both producers' and consumers' surplus especially when the degree of spillovers is not too high and the products are not homogeneous; (ⅲ) the gains in terms of social welfare from full cooperation increase when the efficiency of R&D decreases.
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机译：在标准的R / D /产品市场竞争的两阶段框架中，本说明比较了完全合作（公司在联合实验室进行研发并在产品市场中合谋）和完全竞争（公司在R＆D以及在市场竞争中竞争）的绩效。产品市场）。该论文表明：（ⅰ）与不合作相比，充分合作在研发方面会带来更好的结果； （ⅱ）在生产阶段的串通可能会增加生产者和消费者的剩余，特别是在溢出程度不太高且产品不均匀的情况下； （ⅲ）当研发效率降低时，充分合作带来的社会福利收益增加。
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