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Patents, R&D, and Market Structure in the U.S. Food Processing Industry

Munisamy Gopinath and Utpal Vasavada
Journal of Agricultural and Resource Economics
Vol. 24, No. 1 (July 1999), pp. 127-139
Stable URL: http://www.jstor.org/stable/40987012
Page Count: 13
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Patents, R&D;, and Market Structure in the U.S. Food Processing Industry
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Abstract

This study investigates the effects of market structure and research and development (R&D) on the innovative activities of firms. Fixed and random effects count data models are estimated with firm-level data for the U.S. food processing industry. Results show a positive association between patents and R&D, and patents and market structure, suggesting that firms which exhibit noncompetitive behavior are likely to develop new products and processes. Significant intra-industry spillovers of knowledge are identified using industry R&D. For this industry, deadweight losses from imperfect competition may be offset by greater product variety and quality of food products for consumers.

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