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Innovation, merger policy and technology transfer

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Author Info
Miguel González-Maestre (Universidad de Murcia)
Diego Peñarrubia (Universidad de Murcia)

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Abstract

We consider the interactions between innovation and merger policy under different assumptions on technology transfer. In the absence of licencing, we show that in some cases the government must commit to a permissive policy to ensure that socially desirable innovations take place, while in other cases it must commit to a prohibitive policy to deter socially wasteful innovation investments. We also find that in some circumstances the absence of any commitment is socially necessary to ensure that innovation takes place, although mergers are finally allowed. In contrast with recent literature on licensing, we show that a permissive merger policy can be optimal even if royalties and fees are available in licensing.

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File URL: ftp://ftp.funep.es/InvEcon/paperArchive/Ene2005/v29i1a6.pdf
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Publisher Info
Article provided by Fundación SEPI in its journal Investigaciones Economicas.

Volume (Year): 29 (2005)
Issue (Month): 1 (January)
Pages: 181-201
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Handle: RePEc:iec:inveco:v:29:y:2005:i:1:p:181-201

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Related research
Keywords: Merger policy; innovation; licensing;

Find related papers by JEL classification:
L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
L4 - Industrial Organization - - Antitrust Issues and Policies
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D

This item is featured on the following reading lists:

  1. Technology Assessment
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. McAfee, R Preston & Williams, Michael A, 1992. "Horizontal Mergers and Antitrust Policy," Journal of Industrial Economics, Blackwell Publishing, vol. 40(2), pages 181-87, June. [Downloadable!] (restricted)
  2. Stennek, J. & Verboven, F., 2001. "Merger Control and Enterprise Competitiveness - Empirical Analysis and Policy Recommendations," Research Institute of Industrial Economics Working Papers 556, Research Institute of Industrial Economics (IFN).
    Other versions:
  3. Karp, Larry & Lee, In Ho, 2003. "Time-consistent policies," Journal of Economic Theory, Elsevier, vol. 112(2), pages 353-364, October. [Downloadable!] (restricted)
    Other versions:
  4. Albert Banal & Ines Macho-Stadler & Jo Seldeslachts, 2003. "Mergers, Investment Decisions and Internal Organisation," UFAE and IAE Working Papers 569.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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  5. Persson, Lars, 2004. "Predation and mergers: Is merger law counterproductive?," European Economic Review, Elsevier, vol. 48(2), pages 239-258, April. [Downloadable!] (restricted)
    Other versions:
  6. Kit Pong Wong & Tse, Maurice K. S., 1997. "Mergers and investments in cost reduction with private information revisited," International Journal of Industrial Organization, Elsevier, vol. 15(5), pages 629-634, August. [Downloadable!] (restricted)
  7. Stenbacka, L. Rune, 1991. "Mergers and investments in cost reduction with private information," International Journal of Industrial Organization, Elsevier, vol. 9(3), pages 397-405, September. [Downloadable!] (restricted)
  8. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-91, June. [Downloadable!] (restricted)
  9. Fauli-Oller, Ramon & Sandonis, Joel, 2003. "To merge or to license: implications for competition policy," International Journal of Industrial Organization, Elsevier, vol. 21(5), pages 655-672, May. [Downloadable!] (restricted)
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