Optimal allocation of ownership rights in dynamic R&D alliances
نویسندگان
چکیده
We explore the dynamic evolution of property rights regimes in R&D alliances using the incomplete contract approach pioneered by Grossman, Hart, and Moore. In contrast to the standard analysis, the productive asset is an excludable public good such as a patent. Moreover, both firms can decide whether to disclose their know-how and invest effort. Know-how that has once been released cannot be concealed later. We characterize different scenarios in which the optimal ownership structure may change over time due to a trade-off between inducing know-how disclosure and ensuring maximum effort. 2003 Elsevier Science (USA). All rights reserved. JEL classification: O32; L14; D23
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ورودعنوان ژورنال:
- Games and Economic Behavior
دوره 43 شماره
صفحات -
تاریخ انتشار 2003