The optimal life of a patent when the timing of innovation is stochastic

Article Abstract:

Patent policy is examined using a simple model wherein the timing of innovations is assumed to occur in a stochastic manner. In this model, firms conducting industrial research pay fixed costs while the hazard function is linear in the research effort. Comparative statics results indicate that small innovations will receive greater protection than larger ones. Results also indicate that under-investment in research will occur when the patent life is set optimally.

Patents, Stochastic processes

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Intermediation in innovation

Article Abstract:

A study examining the role of intermediaries between creators and users of new innovations, causes due to which these intermediaries emerge, and the help these intermediaries provide, is presented.

Germany, Management dynamics, Management-Creativity, Analysis, Management, Company business management, Business creativity, Financial intermediation

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Second-mover advantages in the strategic adoption of new technology under uncertainty

Article Abstract:

A new study introduces technological uncertainty into the strategic adoption of new technology. A duopoly model is explored which offers the possibility of second-mover advantages in equilibrium.

Uncertainty

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