Many high technology goods are based on standards that require access to several patents that are owned by different IP holders. We investigate the royalties chosen by IP holders under different market structures. Vertical integration of an IP holder and a downstream producer solves the double...

This paper is based on the acknowledgment that NK models are an extremely useful tool in order to represent and study the complexity stemming from interactions among components of a system. For this reason NK models have been applied in many domains, such as Organizational Sciences and...

We investigate the effect of profit-sharing on product and process innovation. Profit-sharing is a credible commitment of the companies to let the employees participate in any efficiency gain. Resistance against technical progress becomes less plausible. Moreover, employees are stimulated to...

Firms in an R&D race actively manage rivals' beliefs by disclosing and concealing information on their cost of investment. The firms' disclosure strategies affect their incentives to invest in R&D, and to acquire information. We compare equilibria under voluntary disclosure with those under...

Firms in an R&D race actively manage rivals’ beliefs by disclosing and concealing information on their cost of investment. The firms’ disclosure strategies affect their incentives to invest in R&D, and to acquire information. We compare equilibria under voluntary disclosure with those under...

Firms learn imperfectly about their cost of investment. We study how this information affects firms’ incentives to invest in R&D by comparing investments and profits under public and private information. Revenue sharing between the winner and loser of the race, e.g. through licensing...

The imperfect appropriability of revenues from innovation affects the incentives of firms to invest, and to disclose information about their innovative productivity. It creates a free-rider effect in the competition for the innovation that countervails the familiar business-stealing effect....

Our study shows empirically that the choice of resource allocation strategy affects innovation performance. A policy of allocating resources to a broader range of innovation projects increases sales of new products, especially if these are truly novel, i.e. new to the market. The effect of...

Hidden Champions (HCs) are firms unknown to the wider public, but global leaders in the niche markets they serve. This paper looks at distinctive features of these firms, focusing on their dynamic capabilities. Employing a unique data base on German firms, we identify a representative sample of...

This paper examines how a radical technological innovation affects alliance formation of firms and subsequent network structures. We use longitudinal data of interfirm R&D collaborations in the biopharmaceutical industry in which a new technological regime is established. Our findings suggest...