“…A variety of market structures, competitive models, and information structure models have all been used to study technology licensing approaches by scholars (Wang & Yang, 1999;Wang, 2002;Sen, 2005;Sen & Tauman, 2007;Sen & Bhattacharya, 2017;Niu, 2018;Jeon, 2019;Hattori & Tanaka, 2018, 2021. Other factors that influence the optimal licensing contract include product differentiation (Li & Wang, 2010;Ye & Mukhopadhyay, 2013;Rau et al, 2019;Zou & Chen, 2020;Sen et al, 2021;San Martín & Saracho, 2021), the number of participants (Antelo & Sampayo, 2017), and network effects (Zhao et al, 2014;Zhang et al, 2018). However, in the studies mentioned above, licensing of green technologies has received far less consideration than licensing for manufacturing technologies.…”