Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/24511
Authors: 
Czarnitzki, Dirk
Toole, Andrew A.
Year of Publication: 
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: 
Document Type: 
Working Paper

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