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Exclusive versus Non-exclusive Licensing Strategies and Moral Hazard

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Author Info
Schmitz, Patrick W.

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Abstract

An upstream firm can license its innovation to downstream firms that have to exert further development effort. There are situations in which more licenses are sold if effort is a hidden action. Moral hazard may thus increase the probability that the product will be developed.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6207.

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Date of creation: Mar 2007
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Handle: RePEc:cpr:ceprdp:6207

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Related research
Keywords: Innovation; Licences; Monopoly; Private information;

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Find related papers by JEL classification:
D45 - Microeconomics - - Market Structure and Pricing - - - Rationing; Licensing
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies

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    Other versions:
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  5. Aoki, Reiko & Tauman, Yair, 2001. "Patent licensing with spillovers," Economics Letters, Elsevier, vol. 73(1), pages 125-130, October. [Downloadable!] (restricted)
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    Other versions:
  9. Schmitz, Patrick W., 2002. "On Monopolistic Licensing Strategies under Asymmetric Information," Journal of Economic Theory, Elsevier, vol. 106(1), pages 177-189, September. [Downloadable!] (restricted)
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