Information Disclosure in the Renewal of Patents
AbstractThis 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 InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 96.429.
Length: 23 pages
Date of creation: 1996
Date of revision:
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INFORMATION ; MONOPOLIES;
Other versions of this item:
- 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, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
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