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Markets For Partially Contractible Knowledge: Bootstrapping Versus Bundling

Author

Listed:
  • James J. Anton

    (Duke University,)

  • Dennis A. Yao

    (Harvard University and University of Pennsylvania,)

Abstract

We discuss how a seller can appropriate rents when selling knowledge that lacks legal property rights by solving either an expropriation or a valuation problem and then analyze how seller rents increase when a portion of the intellectual property (IP) can be protected. The analysis shows that a sequential strategy in which the protected portion of the IP is sold prior to selling the unprotected IP is superior to selling both portions of the IP as a bundle. (JEL: D23, L14, O31) Copyright (c) 2005 The European Economic Association.

Suggested Citation

  • James J. Anton & Dennis A. Yao, 2005. "Markets For Partially Contractible Knowledge: Bootstrapping Versus Bundling," Journal of the European Economic Association, MIT Press, vol. 3(2-3), pages 745-754, 04/05.
  • Handle: RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:745-754
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    Citations

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    Cited by:

    1. Thomas Hellmann & Enrico Perotti, 2011. "The Circulation of Ideas in Firms and Markets," Management Science, INFORMS, vol. 57(10), pages 1813-1826, October.
    2. Dushnitsky, Gary & Klueter, Thomas, 2017. "Which industries are served by online marketplaces for technology?," Research Policy, Elsevier, vol. 46(3), pages 651-666.
    3. Carliss Y. Baldwin & Joachim Henkel, 2015. "Modularity and intellectual property protection," Strategic Management Journal, Wiley Blackwell, vol. 36(11), pages 1637-1655, November.
    4. Mabrouki, Mohamed, 2018. "Le brevet : un instrument efficace pour promouvoir l’innovation au profit de la croissance ou un mal nécessaire ?
      [Patent: an effective instrument to promote innovation for the benefit of growth or
      ," MPRA Paper 85752, University Library of Munich, Germany.
    5. Samuli Leppälä, 2015. "Economic Analysis Of Knowledge: The History Of Thought And The Central Themes," Journal of Economic Surveys, Wiley Blackwell, vol. 29(2), pages 263-286, April.
    6. Leppälä, Samuli, 2013. "Arrow's paradox and markets for nonproprietary information," Cardiff Economics Working Papers E2013/2, Cardiff University, Cardiff Business School, Economics Section.

    More about this item

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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