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La vente de licences pour l'utilisation d'une innovation de processus: l'impact de la nature du marché du produit sur le mécanisme de vente.
Author(s) -
Bagchi Aniruddha
Publication year - 2008
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/j.1540-5982.2008.00495.x
Subject(s) - externality , revenue , product (mathematics) , business , marginal cost , network effect , commerce , economics , industrial organization , marginal revenue , microeconomics , downstream (manufacturing) , marketing , finance , geometry , mathematics
. This article considers the sale by a research lab of licences for a cost‐reducing innovation. The marginal cost of a firm that wins a licence is private information and the acquisition of a licence imposes a negative externality on the other firms. The lab's optimal revenue is determined from a class of mechanisms in which the lab selects the number of licences and the reserve price before the sale. The role of the downstream product market in the determination of the number of licences is analyzed. Furthermore, it is also shown that the optimal reserve price may be zero.