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 |
| _version_ | 1797848351784304640 |
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| author | Arijit Mukherjee Leonard F.S. Wang |
| author_facet | Arijit Mukherjee Leonard F.S. Wang |
| author_sort | Arijit Mukherjee |
| collection | DOAJ |
| description | 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 other firms are beneficiaries of the spillover effects. This result is instructive to R&D and competition policy. |
| first_indexed | 2024-04-09T18:26:07Z |
| format | Article |
| id | doaj.art-0842150afb5e4deaac065b5e8cb23561 |
| institution | Directory Open Access Journal |
| issn | 0718-2724 |
| language | English |
| last_indexed | 2024-04-09T18:26:07Z |
| publishDate | 2011-11-01 |
| publisher | Universidad Alberto Hurtado |
| record_format | Article |
| series | Journal of Technology Management & Innovation |
| spelling | doaj.art-0842150afb5e4deaac065b5e8cb235612023-04-11T20:02:09ZengUniversidad Alberto HurtadoJournal of Technology Management & Innovation0718-27242011-11-016410.4067/S0718-27242011000400006657The Winner Curse and Social Inefficiency: Double Whammy of R&D TournamentArijit Mukherjee0Leonard F.S. Wang1University of Nottingham and The Leverhulme Centre for Research in Globalisation and Economic Policy, UK, and CESifo, GermanyDepartment of Applied Economics, National University of KaohsiungIn 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 other firms are beneficiaries of the spillover effects. This result is instructive to R&D and competition policy.https://www.jotmi.org/index.php/GT/article/view/826R&D tournamentExcessive entryInsufficient entry |
| spellingShingle | Arijit Mukherjee Leonard F.S. Wang The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament Journal of Technology Management & Innovation R&D tournament Excessive entry Insufficient entry |
| title | The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament |
| title_full | The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament |
| title_fullStr | The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament |
| title_full_unstemmed | The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament |
| title_short | The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament |
| title_sort | winner curse and social inefficiency double whammy of r d tournament |
| topic | R&D tournament Excessive entry Insufficient entry |
| url | https://www.jotmi.org/index.php/GT/article/view/826 |
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