This paper reconsiders the licensing of a common value innovation to a downstream duopoly, assuming a dual licensing …

. Under speed-dependent evolution, a patent-based system will fail to target socially optimal innovation size. The overall …

&D race while maintaining the collusive equilibrium in a repeated-game framework. Innovation under competitive R&D creates … inter-firm asymmetries, which destabilizes the collusive equilibrium. Innovation sharing through cooperative R&D preserves … the collusion stability but also raises social welfare. Interestingly, a welfare improvement is less likely if innovation …

principles. Global markets, international R&D collaboration and global industry-led standards are crucial for innovation and …