contrast to the existing works, the consumers are better off under royalty licensing compared to auction (or fixed …-fee and output royalty can be preferable to the innovator compared to both royalty licensing and auction (or fixed …

the innovator and the society are better off under royalty licensing compared to auction (or fixed-fee) if the number of … that the innovator prefers auction plus royalty licensing (or fixed-fee plus royalty) over either royalty licensing or … auction. …

auction (or fixed-fee licensing) under convex costs. There can also be conflicting interests between the innovator and the … society about the preferred licensing contract. However, the consumers always prefer auction. It follows from our analysis … that a combination of royalty and fixedfee can dominate both auction (of fixed-fee licensing) and royalty only licensing. …

payoff to the innovator than the fixed-fee licensing and auction if the labor market is unionized. This result holds …