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We consider a licensing mechanism for process innovations that combines a license auction with royalty contracts to those who lose the auction. Firms' bids are dual signals of their cost reductions: the winning bid signals the own cost reduction to rival oligopolists, whereas the losing bid...
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This paper reconsiders the licensing of a common value innovation to a downstream duopoly, assuming a dual licensing …
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The literature on R&D contests implicitly assumes that contestants submit their innovation regardless of its value …
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We consider procurement of an innovation from heterogeneous sellers. Innovations are random but depend on unobservable … admission to an innovation contest. After the contest, an innovation is procured employing either a fixed prize or a first …
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