
We show that the presumed incompatibility of uncoordinated R&D and competition is not fundamental, but hinges on the nature of R&D spillovers. As a consequence, R&D subsidies may be more effective than previously thought.
duplication, Subsidies, Duplication, 140214 Public Economics-Publically Provided Goods, Research and Development, Free-Riding R&D, 140204 Economics of Education, Spillovers, 140207 Financial Economics, Research Joint Ventures, jel: jel:D4, jel: jel:L1
duplication, Subsidies, Duplication, 140214 Public Economics-Publically Provided Goods, Research and Development, Free-Riding R&D, 140204 Economics of Education, Spillovers, 140207 Financial Economics, Research Joint Ventures, jel: jel:D4, jel: jel:L1
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