Real and Private-Value Assets

2021 ◽  
Author(s):  
William Goetzmann ◽  
Christophe Spaenjers ◽  
Stijn Van Nieuwerburgh
Keyword(s):  
Private Value

scholarly journals Patent Value and Survival of Patents

2021 ◽  
Vol 7 (2) ◽  
pp. 119
Author(s):  
Jung-Tae Hwang ◽  
Byung-Keun Kim ◽  
Eui-Seob Jeong
Keyword(s):  
Family Size ◽  
Positive Impact ◽  
European Patent ◽  
Patent Data ◽  
Patent Value ◽  
Traditional Family ◽  
Ex Post ◽  
The Family ◽  
Research Findings ◽  
Private Value

This study investigated the effect of patent value on the renewal (survival) of patents. The private value of patents can be one of the main pillars sustaining a firm’s value, and the estimation of the value may contribute to the strategic management of firms. The current study aimed to confirm the recent research findings with survival analysis, focusing on the more homogeneous patent data samples. In this study, a dataset is constructed from a cohort of 6646 patents from the 1996 and 1997 application years, using patent data from the European Patent Office (EPO). We found that the family size and non-patent backward citations exhibited profound impacts on patent survival. This result is in line with numerous studies, indicating the positive impact of science linkages in the biotechnology and pharmaceutical fields. It was also found that the effect of the ex-post indicator is not as strong as the ex-ante indicators, like traditional family size and backward citations. In short, the family size matters most for the survival of patents, according to the current research.

Costly Voting

2004 ◽  
Vol 94 (1) ◽  
pp. 57-66 ◽  
Author(s):  
Tilman Börgers
Keyword(s):  
Decision Making ◽  
Majority Voting ◽  
Voluntary Participation ◽  
Voting Rules ◽  
Value Model ◽  
Private Value ◽  
Two Alternatives ◽  
Costly Voting

What are good voting rules if voting is costly? We analyze this question for the case that an electorate chooses among two alternatives. In a symmetric private value model of voting we show that majority voting with voluntary participation Pareto-dominates majority voting with compulsory participation as well as random decision-making.

scholarly journals Selling with evidence

2019 ◽  
Vol 14 (2) ◽  
pp. 345-371
Author(s):  
Frédéric Koessler ◽  
Vasiliki Skreta
Keyword(s):  
Asymmetric Information ◽  
Product Quality ◽  
Optimal Allocation ◽  
Pareto Optimal ◽  
Principal Problem ◽  
Equilibrium Allocation ◽  
Interdependent Values ◽  
Ex Ante ◽  
Private Value ◽  
Posted Price

We study the informed‐principal problem in a bilateral asymmetric information trading setting with interdependent values and quasi‐linear utilities. The informed seller proposes a mechanism and voluntarily certifies information about the good's characteristics. When the set of certifiable statements is sufficiently rich, we show that there is an ex ante profit‐maximizing selling procedure that is an equilibrium of the mechanism proposal game. In contrast to posted price settings, the allocation obtained when product characteristics are commonly known (the unravelling outcome) may not be an equilibrium allocation, even when all buyer types agree on the ranking of product quality. Our analysis relies on the concept of strong Pareto optimal allocation, which was originally introduced by Maskin and Tirole (1990) in private value environments.

scholarly journals First-mover Advantage and the Private Value of Public Science

2021 ◽  
Author(s):  
Ashish Arora ◽  
Sharon Belenzon ◽  
Bernardo Dionisi
Keyword(s):  
Public Science ◽  
First Mover Advantage ◽  
Private Value ◽  
First Mover
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