Inefficiencies in technology transfer: theory and empirics - Archive ouverte HAL Access content directly
Preprints, Working Papers, ... Year :

Inefficiencies in technology transfer: theory and empirics

(1, 2) , (3, 4) , (4, 5)
1
2
3
4
5

Abstract

Markets for technology can promote innovation by allowing for division of labor in research and development. Some firms may specialize in the discovery of ideas, while others have a comparative advantage in later stages of development and marketing. However, these gains depend on the timing of technology transfer: the buyer of an idea should take over development at the stage at which he has an efficiency advantage. We show that in an environment with asymmetric information about the value of the idea and where this asymmetry decreases as the product is developed, deviations from the optimal timing of technology transfer will occur. We obtain a condition for the optimal timing to take place and show that the intensity of competition between potential buyers has countervailing effects on this condition. An empirical analysis of licensing contracts signed between biotechnology firms and large pharmaceutical firms confirms our theoretical predictions.
Fichier principal
Vignette du fichier
inefficiencies.pdf (392.76 Ko) Télécharger le fichier
Origin : Files produced by the author(s)

Dates and versions

hal-03473787 , version 1 (10-12-2021)

Identifiers

Cite

Marie-Laure Allain, Emeric Henry, Margaret Kyle. Inefficiencies in technology transfer: theory and empirics. 2011. ⟨hal-03473787⟩
76 View
6 Download

Share

Gmail Facebook Twitter LinkedIn More