Innovation, Licensing And Welfare
AbstractIn this paper we show the effect of licensing on innovation and social welfare. We show that firms always do non-cooperative research and development (R&D) when there is licensing after R&D, while firms do cooperative R&D in the absence of licensing if cost reduction from R&D is sufficiently small. Licensing reduces welfare when cost reduction from R&D is sufficiently small. Copyright Blackwell Publishing Ltd and The Victoria University of Manchester, 2005.
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Bibliographic InfoArticle provided by University of Manchester in its journal The Manchester School.
Volume (Year): 73 (2005)
Issue (Month): 1 (01)
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Other versions of this item:
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
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