@article{Mukherjee_Wang_2011, place={Santiago, Chile}, title={The Winner Curse and Social Inefficiency: Double Whammy of R&D Tournament}, volume={6}, url={https://www.jotmi.org/index.php/GT/article/view/art221}, DOI={10.4067/S0718-27242011000400006}, abstractNote={In a R&D tournament setting with free entry and knowledge spillover, we show that the society would suffer from excessive entry and the patent holder would endure lower profits than non-patent holders because it bears the cost of commercializing and further technology development, while the other firms are beneficiaries of the spillover effects. This result is instructive to R&D and competition policy.}, number={4}, journal={Journal of Technology Management & Innovation}, author={Mukherjee, Arijit and Wang, Leonard F.S.}, year={2011}, month={Nov.}, pages={73–79} }