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Lambertini, Luca
Tedeschi, Pietro
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Quaderni - Working Paper DSE 376
We consider a market for vertically differentiated goods where firms enter over time, after having developed innovations characterized by different quality levels. We show that the adaptation of a patent system limiting the quality range available to later entrants is socially undesirable, in that it builds a barrier to entry to the advantage of the first innovators.
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