Analysis of the Improvement and Effects of Government Price Subsidy Strategies in R&D Competitive Environments
Due to the upstream position of R&D competition in the supply chain,it has a more profound impact on the entire supply chain.R&D competition is prevalent and poses new challenges for the government in selecting appropriate technology innovation subsidy policies.However,current research has not analyzed government price subsidy strategies under R&D competition.From a micro-perspective of government and enterprise decision-making,this paper divides government price subsidy policies into three categories:no subsidy,subsidizing products with high consumer valuation,and subsidizing products with low consumer valuation.Utilizing vertical differentiation theory,a multi-agent game model is established to consider the characteristics of innovation activities under R&D competition.The paper analyzes the applicability of government price subsidy policies,the impact of different subsidy policies on R&D investment by companies,the expected returns of R&D companies and the manufacturer,and the consumer surplus of different products.The research findings indicate that the intensity of competition and the characteristics of innovation activities are crucial factors determining the applicability of price subsidy policies.When price subsidy policies align with their applicability conditions,social welfare increases;otherwise,it decreases.Government price subsidies create a zero-sum situation for competing R&D companies,but all price subsidy policies help enhance the expected returns of manufacturers.The impact of subsidies on consumer surplus varies with the specific subsidy amount.Based on this,it is recommended that the government should include the characteristic information reflecting innovation activities into the scope of subsidy work when formulating the technology innovation subsidy policy,consider the research and development competition,and start from the perspective of supply chain rather than focusing on a certain enterprise or a link,so as to make the innovation subsidy work more scientific and accurate.
government subsidy for technology innovationprice subsidyR&D competitionsupply chainconsumer surplussubsidy strategygovernment and enterprise decision-makingsubsidy policy
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