Bhattacharya, Sudipto; Guriev, Sergei - Suntory and Toyota International Centres for Economics … - 2004
We develop a model of two-stage cumulative research and development (R&D), in which one Research Unit (RU) with an innovative idea bargains to license her nonverifiable interim knowledge exclusively to one of two competing Development Units (DUs) via one of two alternative modes: an Open sale...