Antony, Jürgen; Klarl, Torben - In: Review of Industrial Organization 57 (2020) 3, pp. 579-606
This paper focuses on the question of whether or not a reduction of the knowledge barrier is good for welfare. Based on … & Development (R&D), we show that a reduction of the knowledge barrier has ambiguous welfare consequences: due to a lower knowledge …-run. One reason is that a positive long-lasting knowledge barrier shock triggers the monopolist sub-optimally to reduce its …