Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24125
Authors: 
Czarnitzki, Dirk
Kraft, Kornelius
Year of Publication: 
2005
Series/Report no.: 
ZEW Discussion Papers 05-35
Abstract: 
This paper presents the results of an empirical test concerning the auction model of Gilbert and Newbery (1982). The study uses data on German companies in order to analyze expenditures for technology licenses. Aside of standard control variables the motives for innovation expenditures are also taken into account. We differentiate between firms which intend to secure their present position in the market (incumbents) and those intending to enter a new market (challengers). In line with the prediction of the auction model, it turns out that incumbents show higher expenditures for technology licenses than potential entrants.
Subjects: 
Innovation
Licenses
Incumbent versus entrant
Limited Dependent Variables
JEL: 
O32
O31
L12
Document Type: 
Working Paper

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