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Information Disclosure in the Renewal of Patents

Author

Listed:
  • Crampes, C.
  • Langinier, C.

Abstract

This paper presents a patent choice model allowing strategic decisions in a sequential game with two agents: a patentholder, who perfectly knows thecharasteristics of the market, and a potential entrant who has no information about the value of demand. We study several Perfect Bayesian Equilibria. We show that there exists no separating equilibrium because the incumbent of a high-valued market always has some incentive to mimic the behavior of a firm in a bad market. Consequently, we find equilibria where the incumbent prefers not to pay the renewal fee for the patent hoping that it will be interpreted by the challenger as a signal of low market profitability.

Suggested Citation

  • Crampes, C. & Langinier, C., 1996. "Information Disclosure in the Renewal of Patents," Papers 96.429, Toulouse - GREMAQ.
    • Handle: RePEc:fth:gremaq:96.429
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    Citations

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    Cited by:

    1. Karbowski, Adam & Prokop, Jacek, 2013. "Controversy over the economic justifications for patent protection," EconStor Conference Papers 127476, ZBW - Leibniz Information Centre for Economics.
    2. Felix Chan & Dora Marinova & Michael McAleer, 2004. "Trends and volatilities in foreign patents registered in the USA," Applied Economics, Taylor & Francis Journals, vol. 36(6), pages 585-592.
    3. Jinyoung Kim, 2010. "Patent Portfolio Management of Sequential Innovations," Discussion Paper Series 1005, Institute of Economic Research, Korea University.
    4. Emmanuel Combe & Etienne Pfister, 2000. "Patents against imitators: an empirical investigation on French data," Cahiers de la Maison des Sciences Economiques bla00001, Université Panthéon-Sorbonne (Paris 1).
    5. Jinyoung Kim, 2015. "Patent Portfolio Management of Sequential Innovations: Theory and Empirics," Discussion Paper Series 1504, Institute of Economic Research, Korea University.
    6. Emmanuel Combe & Etienne Pfister, 2000. "Patents against imitators: an empirical investigation on French data," Post-Print halshs-03724865, HAL.
    7. Corinne Langinier, 2005. "Using patents to mislead rivals," Canadian Journal of Economics, Canadian Economics Association, vol. 38(2), pages 520-545, May.
    8. Aoki, Reiko & Spiegel, Yossi, 2009. "Pre-grant patent publication and cumulative innovation," International Journal of Industrial Organization, Elsevier, vol. 27(3), pages 333-345, May.
    9. Dora Marinova & Michael McAleer, 2002. "Trends and volatility in Japanese patenting in the USA: An analysis of the electronics and transport industries," Scientometrics, Springer;Akadémiai Kiadó, vol. 55(2), pages 171-187, August.
    10. Karbowski, Adam & Prokop, Jacek, 2012. "Kontrowersje związane z ekonomicznym uzasadnieniem ochrony patentowej [Controversies over the economic justifications for patent protection]," MPRA Paper 73619, University Library of Munich, Germany.
    11. Emmanuel Combe & Etienne Pfister, 2000. "Patents against imitators: an empirical investigation on French data," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-03724865, HAL.
    12. McAleer, Michael & Chan, Felix & Marinova, Dora, 2007. "An econometric analysis of asymmetric volatility: Theory and application to patents," Journal of Econometrics, Elsevier, vol. 139(2), pages 259-284, August.
    13. Langinier, Corinne, 2004. "Are patents strategic barriers to entry?," Journal of Economics and Business, Elsevier, vol. 56(5), pages 349-361.
    14. Aoki, R. & Spiegel, Y., 1998. "Public Disclosure of Patent Applications, R&D, and Welfare," Papers 30-98, Tel Aviv.
    15. Adam Karbowski, 2021. "Unproductive entrepreneurship and patents," Bank i Kredyt, Narodowy Bank Polski, vol. 52(5), pages 473-494.
    16. Jinyoung Kim, 2015. "Patent Portfolio Management of Sequential Inventions: Evidence from US Patent Renewal Data," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 47(2), pages 195-218, September.
    17. Marc Baudry & Béatrice Dumont, 2009. "A Bayesian Real Option Approach to Patents and Optimal Renewal Fees," Working Papers hal-00419330, HAL.

    More about this item

    Keywords

    INFORMATION ; MONOPOLIES;

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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