Patent Protection, Market Uncertainty, and R&D Investment

Czarnitzki, Dirk ; Toole, Andrew A.

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URN: urn:nbn:de:bsz:180-madoc-14414
Document Type: Working paper
Year of publication: 2006
The title of a journal, publication series: None
Publication language: English
Institution: Sonstige Einrichtungen > ZEW - Leibniz-Zentrum für Europäische Wirtschaftsforschung
MADOC publication series: Veröffentlichungen des ZEW (Leibniz-Zentrum für Europäische Wirtschaftsforschung) > ZEW Discussion Papers
Subject: 330 Economics
Subject headings (SWD): Forschung und Entwicklung , Geistiges Eigentum , Patentschutz , Ungewissheit
Keywords (English): Real Options Theory , Uncertainty , R&D , Intellectual Property
Abstract: The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.
Additional information:

Das Dokument wird vom Publikationsserver der Universitätsbibliothek Mannheim bereitgestellt.

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