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Information Disclosure in the Renewal of Patents

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Author Info

  • 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.

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Bibliographic Info

Paper provided by Toulouse - GREMAQ in its series Papers with number 96.429.

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Length: 23 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:fth:gremaq:96.429

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Keywords: INFORMATION ; MONOPOLIES;

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Cited by:
  1. Langinier, Corinne, 2004. "Are patents strategic barriers to entry?," Journal of Economics and Business, Elsevier, vol. 56(5), pages 349-361.
  2. 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.
  3. Aoki, R. & Spiegel, Y., 1998. "Public Disclosure of Patent Applications, R&D, and Welfare," Papers 30-98, Tel Aviv.
  4. Langinier, Corinne, 2005. "Using Patents to Mislead Rivals," Staff General Research Papers 11483, Iowa State University, Department of Economics.
  5. Marc Baudry & BĂ©atrice Dumont, 2009. "A Bayesian Real Option Approach to Patents and Optimal Renewal Fees," Working Papers hal-00419330, HAL.
  6. Jinyoung Kim, 2010. "Patent Portfolio Management of Sequential Innovations," Discussion Paper Series 1005, Institute of Economic Research, Korea University.
  7. 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.
  8. 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.

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