Abstract: This article examines the effects of knowledge sharing or endogenous spillovers among R&D consortia participants on R&D competition when R&D enhances a firm's absorptive capacity. A three-stage model illustrates how different compositions of R&D consortia affect endogenous spillover rates and R&D spending of participants. When consortium participants possess complementary knowledge, the model suggests that participation increases the degree of knowledge sharing and intensifies firms' R&D efforts to learn from other members compared with the case when no cooperation takes place. This type of R&D consortia is welfare enhancing, justifying government support for these projects.

Keywords: knowledge sharing ,endogenous spillover ,cooperative

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