R&D network formation with myopic and farsighted firms

Mauleon, Ana;Sempere-Monerris, Jose J.;Vannetelbosch, Vincent
(2023) Journal of Economic Behavior & Organization — Vol. 208, p. 203-229 (2023)

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We study the formation of R&D networks when firms can be either myopic or farsighted.Stability leads to R&D networks consisting of either asymmetric components or nearly symmetric components. Farsighted firms have in average more collaborations but myopic firms can be central for spreading the innovation. We introduce yes-firms that form links subject to the constraint of non-negative profits. Yes-firms stabilize R&D networks that maximize social welfare. Finally, the evolution of R&D networks shows that nearly symmetric R&D networks will be rapidly dismantled, socially optimal R&D networks will persist many periods, while asymmetric R&D networks will persist forever.
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Mauleon, A., Sempere-Monerris, J. J., & Vannetelbosch, V. (2023). R&D network formation with myopic and farsighted firms. Journal of Economic Behavior & Organization, 208, 203-229. https://doi.org/10.1016/j.jebo.2023.02.012 (Original work published 2023)