Technology Policy in an Oligopoly with Spillovers and Pollution‡

  title={Technology Policy in an Oligopoly with Spillovers and Pollution‡},
  author={Emmanuel Petrakis and J Poyago-theotoky}
We introduce pollution, as a by-product of production, into a non-tournament model of R&D with spillovers. Technology policy takes the form of either R&D subsidisation or pre-competitive R&D cooperation. We show that, when the emissions tax is exogenous, the optimal R&D subsidy can be negative, i.e. there should be a tax on R&D, depending on the extent of the appropriability problem and the degree of environmental damage. In a wide class of cases, depending on the parameter values, welfare in… CONTINUE READING

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