Innovation of Agricultural Biotechnology with Experimental Use Licensing
Innovation in agricultural biotechnology seed products can be characterized as a non-drastic innovative process with product differentiation. We model this innovation and examine the pricing and purchase decisions for experimental use licensing. In equilibrium, a technologically advantaged firm will purchase a license, while a technologically disadvantaged firm will not. This is the case regardless of the order of pricing decisions.
Jackson, Jeremy; Smith, Jason, Innovation of Agricultural Biotechnology with Experimental Use Licensing, Journal of Agricultural and Resource Economics, Volume 44, Issue 1, January 2019, Pages 1-15
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