Comino, Stefano; ?Fabio Manenti; ?Antonio Nicol• - Dipartimento di Scienze Economiche "Marco Fanno", … - 2007
?We consider a cumulative innovation process in which a follow-on innovator invests in R&D activities that influence … both the expected commercial value as well as the novelty of its innovation. When the second innovator investments are not … servable,licensing of the first innovation never occurs efficiently, and, at the equilibrium, the follow-on innovator either …