Networks Webinar Series - Michael Konig
The Janeway Institute hosts the Networks Webinar Series which is organised by George Charlson, Sanjeev Goyal, Matt Elliott and Akhil Vohra.
Venue: Zoom Meeting
Event Date: Friday 8th October 2021
Time: 03:00pm - 04:00pm
Speaker: Michael Konig (VU Amsterdam)
Paper: Endogenous Technology Spillovers in Dynamic R&D Networks
Meeting link: https://us02web.zoom.us/meeting/register/tZYlduCvpjkvG9IpZdVpH-_otQOhKaC9tj7I
Title:Endogenous Technology Spillovers in Dynamic R&D Networks
Abstract:
We introduce a stochastic R&D network formation model where firms choose both R&D efforts and their collaboration partners. Neighbors in the network benefit from each other’s effort levels through local technology spillovers, and there exists a global competition effect reflecting a strategic substitutability in efforts. We provide a complete equilibrium characterization in the form of a Gibbs measure, and show that the model is consistent with empirically observed R&D networks. We then use our equilibrium characterization to show that the model can be conveniently estimated even for large networks. The policy relevance is demonstrated with the analysis of subsidies to R&D collaboration costs.
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