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On the Social Desirability of Patents for Sequential Innovations in a Vertically Differentiated Market

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Author Info
Luca Lambertini
Piero Tedeschi

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Abstract

We consider a market for vertically differentiated goods where firms enter over time, after having developed innovations characterised by different quality levels. We show that patent height and length interact to determine the ultimate emergence of duopoly. In general, imposing quality improvements on later entrants entails the persistence of monopoly, while a duopoly equilibrium emerges when the second innovator is allowed to produce a sufficiently inferior quality and the patent protection granted to the first innovator is not too long-lasting.

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File URL: http://www.statistica.unimib.it/utenti/WorkingPapers/WorkingPapers/20060502.pdf
File Format: application/pdf
File Function: First version, May 2006
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Publisher Info
Paper provided by Università degli Studi di Milano-Bicocca, Dipartimento di Statistica in its series Working Papers with number 20060502.

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Length: 23 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:mis:wpaper:20060502

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Related research
Keywords: innovation; patent height; product quality;

Find related papers by JEL classification:
L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

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This page was last updated on 2009-11-17.

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