Step by step: The benefits of stage-based R&D licensing contracts
We examine how a licensor can optimally design licensing contracts for multi-phase R&D projects when he does not know the licensee’s project valuation, leading to adverse selection, and cannot enforce the licensee’s effort level, resulting in moral hazard. We focus on the effect of the phased na...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2013
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3228 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4227/viewcontent/Crama2013EJORStepbyStep_AFV.pdf |
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| Institution: | Singapore Management University |
| Language: | English |