Abstract
According to Chang et al. (2013), social welfare under licensing is lower than under no-licensing if the R&D efficiency is high. We show that this result is not correct, as when R&D efficiency is high social welfare is higher under licensing than under no-licensing.
Original language | English |
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Pages (from-to) | 353-356 |
Number of pages | 4 |
Journal | Economics Letters |
DOIs | |
Publication status | Published - 2014 |
Keywords
- licensing