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Security bid auctions for agency contracts
Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2012
A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of hidden action and hidden information. Securities range from cash to equity and call options. “Steeper†securities are better surplus extractors that narrow the gap...
Persistent link: https://www.econbiz.de/10010556730
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License Auctions with Royalty Contracts for Losers
Giebe, Thomas; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2006
This paper revisits the standard analysis of licensing a cost reducing innovation by an outside innovator to a Cournot …
Persistent link: https://www.econbiz.de/10005785795
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Auctioning Process Innovations when Losers’ Bids Determine Royalty Rates
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2009
We consider a licensing mechanism for process innovations that combines a license auction with royalty contracts to those who lose the auction. Firms’ bids are dual signals of their cost reductions: the winning bid signals the own cost reduction to rival oligopolists, whereas the losing...
Persistent link: https://www.econbiz.de/10008501954
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Licensing a common value innovation when signaling strength may backfire
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2010
This paper reconsiders the licensing of a common value innovation to a downstream duopoly, assuming a dual licensing …
Persistent link: https://www.econbiz.de/10008501956
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Prizes and Lemons: Procurement of Innovation under Imperfect Commitment
Ding, Wei; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2009
The literature on R&D contests implicitly assumes that contestants submit their innovation regardless of its value …
Persistent link: https://www.econbiz.de/10004980378
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License Auctions with Royalty Contracts for (Winners and) Losers
Giebe, Thomas; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2007
This paper revisits the licensing of a non–drastic process innovation by an outside innovator to a Cournot oligopoly …
Persistent link: https://www.econbiz.de/10005739670
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Optimal bid disclosure in license auctions with downstream interaction
Fan, Cuihong; Jun, Byoung Heon; Wolfstetter, Elmar G. - Volkswirtschaftliche Fakultät, … - 2014
The literature on license auctions for process innovations in oligopoly assumed that the auctioneer reveals the winning bid and stressed that this gives firms an incentive to signal strength through their bids, to the benefit of the innovator. In the present paper we examine whether revealing...
Persistent link: https://www.econbiz.de/10011140993
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Accumulation and Circulation of the Knowledge Needed for Biotech Business Promotion by Engineers of R&D Section in an IT Enterprise: The Case of Hitachi Software Engineering Co., L...
Ohta, Hirofumi; Motohashi, Kazuyuki - Volkswirtschaftliche Fakultät, … - 2011
Much research has been carried out on the accumulation and effective use of knowledge as a companyspecific form of intellectual property. However, insufficient attention has been given to research focusing on the effects of micro-level knowledge absorption and its effective use. In this paper,...
Persistent link: https://www.econbiz.de/10011258775
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Patent value and liquidity: evidence from patent-collateralized loans in China
Dang, Jianwei; Motohashi, Kazuyuki - Volkswirtschaftliche Fakultät, … - 2012
This paper studies how offering patents as collateral　influences the decisions of Chinese lenders and determines features that make patents more acceptable as collateral. We develop a lending model incorporating a borrower’s likelihood of default, the value of patents offered as collateral,...
Persistent link: https://www.econbiz.de/10011259780
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Growing R&D in Emerging Economies: Implications for International Management and Competitiveness
Motohashi, Kazuyuki - Volkswirtschaftliche Fakultät, … - 2012
, (4) policy driven, (5) production driven and (6) innovation driven. The management style of local R&D sites is different …, market, policy and production driven), networking with local innovation system (local firms, university and public research … (subsidiary and local players) is important for innovation driven R&D. In addition, it is important to manage the balance between …
Persistent link: https://www.econbiz.de/10011260650