Preemption, leapfrogging and competition in patent races
نویسندگان
چکیده
منابع مشابه
Patent Races, Product Standards, and International Competition
We examine anticipatory prcxiuct standards intended to improve the strategic position of fInns in an international patent race where fInns do R&D to develop products that are close substitutes. The effects of a standard are shown to depend on the way the standard is specified, which ftnn develops which product, and on the order in which products are discovered. Simple standards are, in general,...
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Most traditional studies of R&D do not consider that the use of leverage to finance R&D may affect total R&D expenditures in a patent race. We show that debt acts as a commitment to a smaller amount of total R&D spending (debt+equity) than would occur if firms were entirely equity financed. A commitment to lower R&D expenditure can be strategically beneficial; under a flow-cost model, debt indu...
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We consider a preemption game with two potential competitors who come into play at some random secret times. The presence of a competitor is revealed to a player only when the former moves, which terminates the game. We show that all perfect Bayesian equilibria give rise to the same distribution of players’ moving times. Moreover, there exists a unique perfect Bayesian equilibrium in which each...
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There are two important rules in a patent race: what an innovator must accomplish to receive the patent and the allocation of the benefits that flow from the innovation. Most patent races end before R&D is completed and the prize to the innovator is often less than the social benefit of the innovation. We study the optimal combination of prize and minimal accomplishment necessary to obtain a pa...
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This paper presents a model of innovations and economic growth, which departs from earlier endogenous growth models by assuming that innovations require not only labor of innovators, but also time. Each innovation has to wait till its time comes, and speeding it up is costly. This change in assumption yields a number of important results. First, the model gives rise to patent races, where many ...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 1983
ISSN: 0014-2921
DOI: 10.1016/0014-2921(83)90087-9