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Patent protection, market uncertainty, and R&D investment

Czarnitzki, Dirk (contributor); Toole, Andrew A. (contributor) - 2006

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.

Persistent link: https://www.econbiz.de/10003359656

R&D collaboration with uncertain intellectual property rights

Czarnitzki, Dirk; Hussinger, Katrin; Schneider, Cédric - 2011

Patent pendencies create uncertainty in research and development (R&D) collaboration agreements, resulting in a threat of expropriation of unprotected knowledge by potential partners, reduced bargaining power and enhanced search costs. In this paper, we show that - depending of the type of...

Persistent link: https://www.econbiz.de/10008901848

Patent protection, market uncertainty, and R&D investment

Czarnitzki, Dirk (contributor); Toole, Andrew A. (contributor) - 2008 - Rev. version

Real options investment theory predicts current investment falls as uncertainty about market returns increases. In the case of R&D investment, which is usually considered an irreversible form of investment, this effect should be quite pronounced. This paper tests the real options prediction...

Persistent link: https://www.econbiz.de/10003671163

Optimal taxes on capital in the OLG model with uninsurable idiosyncratic income risk

Krueger, Dirk; Ludwig, Alexander - 2018

facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium feedback of … optimal aggregate saving rate is independent of income risk. The optimal time-invariant tax on capital is increasing in income … risk. Its sign depends on the extent of risk and on the Pareto weight of future generations. If the Ramsey tax rate that …

Persistent link: https://www.econbiz.de/10011816301

Idiosyncratic risk, aggregate risk, and the welfare effects of social security

Harenberg, Daniel; Ludwig, Alexander - 2018 - This version: December 1, 2017

productivity and aggregate business cycle risk. We show analytically that the whole welfare benefit from joint insurance against … both risks is greater than the sum of benefits from insurance against the isolated risk components. One reason is the … convexity of the welfare gain in total risk. The other reason is a direct risk interaction which amplifies the utility losses …

Persistent link: https://www.econbiz.de/10011816319

Uncertainty of outcome versus reputation : empirical evidence for the first German football division

Czarnitzki, Dirk; Stadtmann, Georg - 1999

This paper analyses the determination of match attendance in the German premier football league by applying models derived from Peel/Thomas (1992) and Janssens/Késenne (1987). Additionally we develop an improved version, where we incorporate the supporter clubs and the weather conditions as...

Persistent link: https://www.econbiz.de/10011443285