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Innovation, Market Structure and the Holdup Problem : Investment Incentives and Coordination

By Wickelgren, Abraham L.

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Book Id: WPLBN0000142287
Format Type: PDF eBook
File Size: 0.2 MB
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Title: Innovation, Market Structure and the Holdup Problem : Investment Incentives and Coordination  
Author: Wickelgren, Abraham L.
Volume:
Language: English
Subject: Trade, Import and export controls, Federal Trade Commission (U.S.)
Collections: Economics Publications Collection, Federal Trade Commission
Historic
Publication Date:
Publisher: Government Printing Office

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Wickelgren, A. L. (n.d.). Innovation, Market Structure and the Holdup Problem : Investment Incentives and Coordination. Retrieved from http://www.worldebooklibrary.com/


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Government Reference Publication

Excerpt
Abstract: I analyze the innovation incentives under monopoly and duopoly provision of horizontally differentiated products purchased via bilateral negotiations, integrating the market structure and innovation literature with the holdup literature. I show that competition can improve local incentives for non-contractible investment. Because innovation levels are generally strategic substitutes, however, there can be multiple duopoly equilibria. In some circumstances, monopoly can provide a coordination device that can lead to greater expected welfare despite inferior local innovation incentives. The conditions for this to be the case, however, are quite restrictive.

 

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