The Optimum Life of a Patent When the Timing of Innovations is Stochastic

V. Denicolo'
Authors registered in the RePEc Author Service: Vincenzo Denicolo' ()

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: This paper studies the optimal lifetime of a patent in a model where the timing of innovatons: is uncertain. We assume a Poisson discovery process with a linear hazard function and contractural R&D costs. The invention industry is modelled in three alternative ways: i) monopoly; ii) oligopoly with free entry; iii) perfect competition. Several comparative staties results are derived.

Date: 1995-07
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Persistent link: https://EconPapers.repec.org/RePEc:bol:bodewp:225

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