Patent protection, market uncertainty, and R&D investment

The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.

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Year of publication:	2006
Authors:	Czarnitzki, Dirk ; Toole, Andrew A.
Publisher:	Mannheim : Zentrum für Europäische Wirtschaftsforschung (ZEW)
Subject:	Real Options Theory \| Uncertainty \| R&D \| Intellectual Property Protection \| Censored Regression

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Series:	ZEW Discussion Papers ; 06-056
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	516497006 [GVK] hdl:10419/24511 [Handle] RePEc:zbw:zewdip:5450 [RePEc]
Classification:	O33 - Technological Change: Choices and Consequences; Diffusion Processes ; O31 - Innovation and Invention: Processes and Incentives ; C25 - Discrete Regression and Qualitative Choice Models
Source:	EconStor

Persistent link: https://www.econbiz.de/10010297827