We introduce the idea that there exist exogenous restrictions in the number of knowledge-sharing licenses innovators can offer. Embodying licensing scarcity in a sequential innovation framework where innovators license under the threat of imitation, we argue that scarcity challenges conventional wisdom as: a) a drop in intellectual property protection can concomitantly lead to more competition and greater profits, and b) follow-on innovators, despite having to compensate the original innovator for using her technology, have comparably greater R&D incentives.
Zoom link: https://uoc-gr.zoom.us/j/97374751400?pwd=UjZ4cUVaSXZ2bnZUT1BNSVhySFlDQT09
