Entry and Patenting in the Pharmaceutical Industry

Maria Letizia Giorgetti () and Maria Mancusi

Departmental Working Papers from Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano

Abstract: We study the impact of incumbents' and own patents on entry in pharmaceutical submarkets in the USA for the period 1988-1998. We relate the variation in the effect of patents on entry to some observable market and firm characteristics and find a negative impact of incumbents' patents on entry, which confirms the role of patents as a barrier to entry.

Keywords: Entry; Patents; Bayesian Inference; Panel data; Probit model; Random effects (search for similar items in EconPapers)
JEL-codes: C11 C23 C25 L11 L65 (search for similar items in EconPapers)
Date: 2016-02-11
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Persistent link: https://EconPapers.repec.org/RePEc:mil:wpdepa:2016-02

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