The Effects Of a Patent System on Product Varieties in Hotelling's Competition
AbstractThe effects of a patent system on the chosen strategies of duopolists in an Hotelling's line game are examined. It is found that even a patent which is not designed to reward inventors with monopoly power will increase the range of costs to R&D from which a monopoly will result. Wider patents will increase the range of costs which give rise to a patent race as the unique equilibrium.
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Bibliographic InfoArticle provided by Missouri Valley Economic Association in its journal The Journal of Economics.
Volume (Year): 27 (2001)
Issue (Month): 1 ()
Find related papers by JEL classification:
- O3 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
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