Licensing and innovation: A comment
Stefano Colombo () and
Luigi Filippini ()
Economics Letters, 2014, vol. 125, issue 3, 353-356
According to Chang et al. (2013), social welfare under licensing is lower than under no-licensing if the R&D efficiency is high. We show that this result is not correct, as when R&D efficiency is high social welfare is higher under licensing than under no-licensing.
Keywords: Patent licensing; Innovation; Social welfare (search for similar items in EconPapers)
JEL-codes: D45 (search for similar items in EconPapers)
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