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- W2474860504 abstract "Where product innovation requires several complementary patents, fragmented property rights can limit firms' willingness to invest in R&D. We consider the research intensity in multiple simultaneous R & D contests and how it depends on whether firms already hold relevant patents as well as the availability of an option to invent around. A measure of technological uncertainty is also analyzed. The multiple patent product involves an important hold-up problem that can reduce the overall R&D effort. Invent-around options moderate this problem. We also analyze targeted equilibria in which the aim of R&D can be to hold up a rival. © 2008 INFORMS." @default.
- W2474860504 created "2016-07-22" @default.
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- W2474860504 date "2008-01-01" @default.
- W2474860504 modified "2023-09-27" @default.
- W2474860504 title "Fragmented property rights and incentives for R&D" @default.
- W2474860504 hasPublicationYear "2008" @default.
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