英文摘要 |
This paper studies the interaction of market concentration and licensing royalty for an innovator following RAND terms under an asymmetric oligopoly in which the technology transfer takes place from the innovator to firms having asymmetric cost. Taking cost variance as a proxy to evaluate market concentration, this paper shows that the nexus of market concentration and licensing royalty is highly sensitive to the curvature of market demand. When market demand is concave (convex) to the origin, the nexus of market concentration and royalty rate is positive (negative), whereas in the case of linear demand the royalty is independent of market concentration. As a result, market concentration and market demand crucially affect the licensing royalty. |