Dechenaux, Emmanuel; Goldfarb, Brent D.; Thursby, Marie C. - 2021
At least since Arrow (1962), the effects of appropriability on invention have been well studied, but there has been … terminate or commercialize the invention is driven by the current market value of the invention, as well as the option value of … risks. We find that better appropriability in the sense of more effective patent strength and secrecy has a strong negative …