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Ex-ante licensing in sequential innovations

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  • Comino, Stefano
  • Manenti, Fabio M.
  • Nicolò, Antonio

Abstract

The theoretical literature on the cumulative innovation process has emphasized the role of ex-ante licensing – namely, licensing agreements negotiated before the follow-on innovator has sunk its R&D investment – in mitigating the risk of hold-up of future innovations. In this paper, we consider a patent-holder and a follow-on innovator bargaining over the licensing terms in a context where the former firm is unable to observe the timing of the R&D investment of the latter. We show that the possibilities of restoring the R&D incentives by setting the licensing terms appropriately are severely limited.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 73 (2011)
Issue (Month): 2 ()
Pages: 388-401

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Handle: RePEc:eee:gamebe:v:73:y:2011:i:2:p:388-401

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Web page: http://www.elsevier.com/locate/inca/622836

Related research

Keywords: Sequential innovation; Patents; Licensing; Intellectual property; Information acquisition;

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Cited by:
  1. Alberto Galasso & Mark Schankerman, 2013. "Patents and cumulative innovation: causal evidence from the courts," LSE Research Online Documents on Economics 51539, London School of Economics and Political Science, LSE Library.
  2. Petal Jean Hackett, 2012. "Cutting too Close? Design Protection and Innovation in Fashion Goods," CESifo Working Paper Series 3716, CESifo Group Munich.
  3. Galasso, Alberto & Schankerman, Mark, 2013. "Patents and Cumulative Innovation:Causal Evidence from the Courts," IIR Working Paper 13-16, Institute of Innovation Research, Hitotsubashi University.
  4. Alberto Galasso & Mark Schankerman, 2013. "Patents and Cumulative Innovation: Causal Evidence from the Courts," CEP Discussion Papers dp1205, Centre for Economic Performance, LSE.

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