Study on the R&D Strategy in the Context of R&D Output and Investment Spillover

This paper introduces a two-stage game model in the Cournot duopoly competition based on the output competition.The paper compares the RD level of the firms under the output and investment spillover in the context of the four RD strategies.The research reveals that the firms with the output spillover have higher RD level than those with investment spillover.RD level of the firms decreases when spillover level rises.The two models are equivalent in the absence of spillover effects.The research joint venture strategy proves the best among the four strategies whether under output spillover or investment spillover from the perspective of technology progress.