The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Research Joint Ventures

  • Bruno Cassiman
Reference work entry


A research joint venture (RJV) is an agreement between two or more partners to perform research and development (R&D). RJVs provide a mechanism to bridge the divide between the optimal public R&D policy – free dissemination of knowledge – and private incentives to invest in R&D – appropriation of returns to investments. Three important issues related to appropriation of returns to R&D condition the private incentives to form a RJV: coordination of R&D investments between RJV partners, free-riding inside and outside the RJV, and information sharing between RJV partners.


Adverse selection Antitrust Cartels Collusion Competition policy Externalities Free riding Incentive compatibility Industrial organization Information sharing among firms Innovation Innovation policy Mergers Public goods R&D contracting R&D cooperation Repeated games Research and development (R&D) Research joint ventures Risk sharing Spillovers Technology licensing Transaction costs Transfer of technology 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Bruno Cassiman
    • 1
  1. 1.