Licensing and the sharing of knowledge in research joint ventures

Sudipto Bhattacharya, Jacob Glazer, David E.M. Sappington

Research output: Contribution to journalArticlepeer-review

Abstract

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.

Original languageEnglish
Pages (from-to)43-69
Number of pages27
JournalJournal of Economic Theory
Volume56
Issue number1
DOIs
StatePublished - Feb 1992

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