时间：26日上午10：30－12：00
地点：伟伦南431
题目: Strategic Investment and Licensing of Technology Innovations
演讲人: Prof. Lihui Lin, Boston University
摘要:
Technology innovations continue to be one of the greatest drivers of economic growth. Realizing the value of such innovations, however, requires substantial follow-on investments in development and commercialization. The value of these investments is difficult to capture due to uncertain demand and potential competition. We study various issues concerning the investment and competitive strategies of technology companies. We use real options analysis to derive firms' optimal investment strategies. The strategic impacts of investment on consumers and potential competitors are also discussed. First,, in presence of network effects, the firm's commitment of investments can influence consumers' expectations. Second, the firm's investment allows it to license the technology to potential competitors. We find that licensing contracts can dissuade other firms from developing alternative technologies. A variety of licensing possibilities is considered, including fixed fees, royalty schedules, and two-part licenses consisting of an upfront payment and a royalty schedule.
