TY  - BOOK
AU  - Agrawal,Ajay
AU  - Cockburn,Iain
AU  - Zhang,Laurina
ED  - National Bureau of Economic Research.
TI  - Deals Not Done: Sources of Failure in the Market for Ideas 
T2  - NBER working paper series
PY  - 2013///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - November 2013; Hardcopy version available to institutional subscribers
N2  - Using novel survey data on technology licensing, we report the first empirical evidence linking the three main sources of failure emphasized in the market design literature (lack of market thickness, congestion, lack of market safety) to deal outcomes.  We disaggregate the licensing process into three stages and find that although lack of market thickness and deal failure are correlated in the first stage, they are not in the latter stages, underscoring the bilateral monopoly conditions under which negotiations over intellectual property often occur.  In contrast, market safety is only salient in the final stage.  Several commonly referenced bargaining frictions (congestion) are salient, particularly in the second stage.  Also, universities and firms differ in the stage during which they are most likely to experience deal failure
UR  - https://www.nber.org/papers/w19679
UR  - http://dx.doi.org/10.3386/w19679
ER  -