학술논문
Optimal licensing contracts under demand uncertainty: An application to Korea’s 3G case
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- 영문명
- Optimal licensing contracts under demand uncertainty: An application to Korea’s 3G case
- 발행기관
- 한국계량경제학회
- 저자명
- Hongjai Rhee Imho Kang Kiho Yoon
- 간행물 정보
- 『한국계량경제학회 학술대회 논문집』2007년 하계학술대회, 1~23쪽, 전체 23쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2007.08.30
5,560원
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국문 초록
영문 초록
This paper deals with the structure of the optimal spectrum charges when firms face financial constraints under substantial demand uncertainty. Using an equilibrium theory, we show that a partial royalty contract can be better under some circumstance than the usual lump-sum contract in terms of social welfare, and the share of royalty payment should increase with the degree of demand uncertainty. We then demonstrate empirical relevance of the predictions using the case of Korea’s 3G spectrum licensing. With a calibration of the case, we find that the government should have better to move some significant portion of the total spectrum charge to royalty rather than the actual fixed-fee only scheme. We discuss some policy implications and a future research agenda.
목차
1. Introduction
2. The Model
3. The Empirical Analysis of the 3G Licensing Case in Korea
4. Concluding remarks
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