X. H. Wang, Bill Z. Yang
Abstract
This paper considers licensing by an innovating firm to its competitor in a differentiated duopoly with Bertrand competition. A principal finding is that royalty licensing may be superior to fee licensing for the innovating firm both when the innovation is drastic and when the innovation is non‐drastic.
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This paper considers licensing by an innovating firm to its competitor in a differentiated duopoly with Bertrand competition. A principal finding is that royalty licensing may be superior to fee licensing for the innovating firm both when the innovation is drastic and when the innovation is non‐drastic.
Key concepts: Bertrand competition, Competition (biology), Economics, Microeconomics, Cournot competition, Oligopoly, Biology, Ecology