| 英文摘要 |
We combine the barbell model in Liang et al. (2006) and the characteristic of the online firm in Guo and Lai (2014, 2017) to analyze the intra-industry licensing strategy under real and virtual competition. We obtain the following interesting results. First, given exclusive licensing, the licensor will choose fixed-fee licensing to the online (physical) firm, if the transport rate relative to the online firm’s waiting cost is large (small). Second, given non-exclusive licensing, all of the royalty, mixed, and fixed-fee licensing can occur, depending upon two key factors, the licensor’s marginal cost and the differential of the waiting cost and transport rate. Third, non-exclusive licensing is superior to exclusive licensing, except in the case where the exclusive fixed-fee licensing to the physical firm becomes optimal when both the licensor’s marginal cost and the waiting cost relative to the transport rate are large. |
