Although innovation opportunities within the ICT industry are assumed high in comparison with other industries because of their rapidly evolving technological trajectory, little empirical research systematically investigates the distribution of returns to R&D investment across industries and...

We analyze the effect of patent thickets on entry into technology areas by firms in the UK. We present a model that describes incentives to enter technology areas characterized by varying technological opportunity, complexity of technology, and the potential for hold-up in patent thickets. We...