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|Title:||Multistage R&D competition and patent policy|
Multistage R&D competition
|Source:||Lim, W.S. (1998). Multistage R&D competition and patent policy. Journal of Economics/ Zeitschrift fur Nationalokonomie 68 (2) : 153-173. ScholarBank@NUS Repository.|
|Abstract:||In this paper a model of multistage R&D patent policy is investigated. We study the impact of the duration of patent protection for intermediate products on R&D races when the discovery of the final product requires the accomplishment of an intermediate step. Using a multistage model where firms choose their levels of research investment at each stage, we find all subgame-perfect equilibria of the game. We also determine how competition affects a firm's level of research investment at different stages of the R&D competition.|
|Source Title:||Journal of Economics/ Zeitschrift fur Nationalokonomie|
|Appears in Collections:||Staff Publications|
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