An innovative firm chooses strategically whether to patent its process innovation or rely on secrecy. By doing so, the … a smaller (greater) patenting incentive if patent protection is weak (strong) … firm manages its rival’s beliefs about the size of the innovation, and affects the incentives in the product market …

known to consumers. Each firm can make an imperfect disclosure of its product quality before engaging in price-signaling …, in one of the separating regimes, price signaling leads to intense price competition between the firms under which not …

We examine innovation as a timing game with complete information and observable actions in which firms decide when to …-mover advantage. Economic applications are discussed including process and product innovation and the timing of the sale of an asset …

investment incentives of the initial innovator, contrary to much of the cumulative innovation literature. Indeed, as the effect … preferable to more broad-based policies. -- Innovation ; minimum quality standards ; novelty requirements ; stopping game …

much of the cumulative innovation literature. When the research abilities of the firms differ, either the high ability firm … asymmetric case, as they can change the order of entry. -- Innovation ; minimum quality standards ; novelty requirements …

investment incentives of the initial innovator, contrary to much of the cumulative innovation literature. Indeed, as the effect …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

An innovative firm chooses strategically whether to patent its process innovation or rely on secrecy. By doing so, the … a smaller (greater) patenting incentive if patent protection is weak (strong). -- Bertrand and Cournot competition … firm manages its rival’s beliefs about the size of the innovation, and affects the incentives in the product market …