TY - JOUR
T1 - Licensing and the sharing of knowledge in research joint ventures
AU - Bhattacharya, Sudipto
AU - Glazer, Jacob
AU - Sappington, David E.M.
N1 - Funding Information:
* We are grateful for the helpful comments provided by an anonymous referee, an associate editor, Benjamin Blair, Michael Katz, James Mirrlees, Carl Shapiro, David Sibiey, Joseph Stiglitz, Robert Willig, and seminar participants at Bellcore, Chicago, NYU, Princetora, San Diego, Stanford, and Yale. The third author would like to thank Bellcore, the National Science Foundation, and the Public Utilities Research Center at the University of Florida for financial support.
PY - 1992/2
Y1 - 1992/2
N2 - We consider a three-stage model of research and development (R & D) to capture some key elements of research joint ventures (RJVs). In the last of the three stages, firms compete in the product market. In the second stage, the firms simultaneously choose unobservable R & D levels. In the first stage, the firms can share some or all of their knowledge with other firms in the RJV. We examine the ability of two simple licensing mechanisms to ensure both efficient sharing of knowledge and efficient R & D effort levels.
AB - We consider a three-stage model of research and development (R & D) to capture some key elements of research joint ventures (RJVs). In the last of the three stages, firms compete in the product market. In the second stage, the firms simultaneously choose unobservable R & D levels. In the first stage, the firms can share some or all of their knowledge with other firms in the RJV. We examine the ability of two simple licensing mechanisms to ensure both efficient sharing of knowledge and efficient R & D effort levels.
UR - http://www.scopus.com/inward/record.url?scp=44049115126&partnerID=8YFLogxK
U2 - 10.1016/0022-0531(92)90068-S
DO - 10.1016/0022-0531(92)90068-S
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AN - SCOPUS:44049115126
SN - 0022-0531
VL - 56
SP - 43
EP - 69
JO - Journal of Economic Theory
JF - Journal of Economic Theory
IS - 1
ER -