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| Author: | Gans, J.S. Stern, S. |
| Title: | Incumbency and r&d incentives: licensing the gale of creative destruction |
| Journal: | Journal of Economics & Management Strategy
2000 : WINTER, VOL. 9:4, p. 485-511 |
| Index terms: | INNOVATION INCENTIVES LICENSING R&D |
| Freeterms: | INCUMBENCY |
| Language: | eng |
| Abstract: | This paper analyzes the relationship between incumbency and R&D incentives in the context of a model of technological competition in which technologically successful entrants are able to license their innovation to (or be acquired by) an incumbent. That such a sale should take a place is natural, since postinnovation monopoly profits are greater than the sum of duopoly profits. The authors identify three key findings about how innovative activity is shaped by licensing. |
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