Which Firms Buy Licenses? Market Positions and License Expenditures*
比较德国企业的技术许可支出，发现市场在位者比潜在进入者支出更高，验证了Gilbert和Newbery模型的预测。
This paper presents the empirical results of a comparison of technology licensing expenditures of German companies in order to test implications of the Gilbert and Newbery (1982) model. Aside from standard control variables, the motives for innovation expenditures are also taken into account. We differentiate between firms intending to secure their present position in the market (incumbents) and those intending to enter a new market (challengers). In line with the prediction of the Gilbert and Newbery model, we find that incumbents show higher expenditures for technology licenses than potential entrants.