We study the incentives to share private information ahead of contests, such as markets with promotional competition …, procurement contests, or R&D. We consider the cases where firms have (i) independent values and (ii) common values of winning the …

In the pharmaceutical industry, firms frequently engage in licensing agreements to overcome innovation challenges and … keep up with the pace of developing new drugs. Licensing helps firms jointly develop new drugs and acquire external … knowledge, which helps improve their internal drug development capability. Our study examines the dynamic effects of licensing …