| Abstract : | Research and Development refers to "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of man, culture and society, and the use of this stock of knowledge to devise new applications". R&D is often scientific or towards developing particular technologies and is frequently carried out as corporate or governmental activity.The majority of firms are very interested in the field of R&D programs, because it is usually a crucial factor in the survival of a company. We observe that many industries, such as pharmaceuticals, aircraft, electrical equipment, chemicals etc, spend a huge amount of money in order to invest in research and development. This is necessary due to continuous technology changes and development as well as the changing preference of customers. The purpose of every company which participates in R&D programs is to reduce the production cost in order to maximize profits. The market structure and the degree of concentration are the most important factors that affect the level of research activity of firms; however there are many other factors.In this thesis, we explore the field of Research and Development and Research Joint Ventures, so, the structure of the thesis is divided in these two parts. More specifically, at the beginning we quote the theoretical background of R&D. This part includes not only definitions and concepts, but also the R&D incentives and the market failures. Moreover, a very important part is the Technology Policy and it is analyzed at the first chapter. Subsequently, we analyze the patent race - tournament models and non – tournament models at chapters 2 and 3. Then, we enter the field of Research Joint Ventures and we find out about it with analysis of the most important RJV models. Finally, in the last part of this thesis we analyze the commitments, efficiency in RJVs and also the dynamic RJV.
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