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better suited in explaining the patterns of innovation, technological change, and the growth in very dynamic industries. In … this context, our article reviews the evidence of Luigi Orsenigo’s contribution to the economics of innovation, to the … tradition of history-friendly models, and to the discussion on the sectoral system of innovation. It concludes by pointing at …
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The present paper reconsiders the inside innovators’ licensing problem under incomplete information. Employing an optimal mechanism design approach, we show that, contrary to what is claimed in the literature, the optimal mechanism may prescribe fixed fees, royalty rates lower than the cost...
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