Design of the contingent royalty rate as related to the type of investment
Abstract This study investigates the design of the royalty rate in a first-price auction across three types of investments: incremental and lumpy with or without an exogenously given intensity. A bidder’s investment cost comprises private information. This, together with the stochastic evolution of...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
SpringerOpen
2023-04-01
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| Series: | Financial Innovation |
| Subjects: | |
| Online Access: | https://doi.org/10.1186/s40854-023-00450-0 |