The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament
In a R&D tournament setting with free entry and knowledge spillover, we show that the society would suffer from excessive entry and the patent holder would endure lower profits than non-patent holders because it bears the cost of commercializing and further technology development, while the othe...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad Alberto Hurtado
2011-11-01
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| Series: | Journal of Technology Management & Innovation |
| Subjects: | |
| Online Access: | https://www.jotmi.org/index.php/GT/article/view/826 |