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Title:Patent protection, market uncertainty, and R&D investment PDF Logo
Authors:Czarnitzki, Dirk
Toole, Andrew A.
Issue Date:2006
Series/Report no.:ZEW Discussion Papers 06-56
Abstract:The real options investment theory shows that greater uncertainty about market revenues reduces current R&D investment by increasing the value of waiting. This paper presents empirical evidence that patent protection mitigates the effect market uncertainty on R&D investment.
Subjects:Real Options Theory
Uncertainty
R&D
Intellectual Property Protection
Censored Regression
JEL:O33
O31
C25
more recent Version:http://hdl.handle.net/10419/24705
Document Type:Working Paper
Appears in Collections:ZEW Discussion Papers
Publikationen von Forscherinnen und Forschern des ZEW

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