Cost asymmetry and vertical product licensing

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题名:	Cost asymmetry and vertical product licensing
作者:	Chang, RY (Chang, Ray-Yun) Peng, CH (Peng, Cheng-Hau)
贡献者:	Dept Econ
关键词:	technology licensing cost asymmetry vertical product differentiation D45 L13 L15 L24
日期:	2013-09-01
上传时间:	2014-02-24 16:27:39 (UTC+8)
摘要:	This paper investigates the optimal licensing contract for a product innovation in a vertically differentiated duopoly. The two firms have different marginal costs and the high-quality firm can license its technology on product quality to the low-quality firm. It is found that the optimal form of licensing contract depends on the relative marginal costs of the two firms. If the marginal cost of the high-quality firm is relatively high (low), fixed-fee licensing is superior (inferior) to royalty licensing from the viewpoint of the licensor. Surprisingly, consumers are worse off if the quality difference between the two firms is small. This result is in contrast to the received wisdom in the product licensing literature.
關聯:	ASIA-PACIFIC JOURNAL OF ACCOUNTING & ECONOMICS Volume: 20 Issue: 3 Pages: 270-280
显示于类别:	[經濟學系暨經濟學系碩博士班] 期刊論文

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