The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning …

Inspired by some spectrum auctions, we consider a stylized license auction with incumbents and one entrant. Whereas the …

. We propose a new mechanism that combines a restrictive license auction with royalty licensing. This mechanism is more … profitable than standard license auctions, auctioning royalty contracts, fixed-fee licensing, pure royalty licensing, and two …