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Sovereign Debt Restructuring: the Judge, the Vultures and Creditor Rights

Miller, Marcus; Thomas, Dania - C.E.P.R. Discussion Papers - 2006

What role did the US courts play in the Argentine debt swap of 2005? What are the implications for the future of creditor rights in sovereign bond markets? The judge in the Argentine case has, it appears, deftly exploited creditor heterogeneity – between holdouts seeking capital gains and...

Persistent link: https://www.econbiz.de/10005067444

Economic incongruities in the European patent system

Mejer, Malwina; van Pottelsberghe de la Potterie, Bruno - C.E.P.R. Discussion Papers - 2009

This paper argues that the consequences of the ‘fragmentation’ of the European patent system are more dramatic than the … mere prohibitive costs of maintaining a patent in force in many jurisdictions. First, detailed analysis of judicial systems …-level competition policy and granting authority ultimately facing national jurisdictional primacy on patent issues. These high degrees …

Persistent link: https://www.econbiz.de/10005788910

The Optimal Amount of Falsified Testimony

Emons, Winand; Fluet, Claude - C.E.P.R. Discussion Papers - 2005

An arbiter can decide a case on the basis of his priors or he can ask for further evidence from the two parties to the conflict. The parties may misrepresent evidence in their favour at a cost. The arbiter is concerned about accuracy and low procedural costs. When both parties testify, each of...

Persistent link: https://www.econbiz.de/10005788951

Determinants of Opposition Against EPO Patent Grants - The Case of Biotechnology and Pharmaceuticals

Harhoff, Dietmar; Reitzig, Markus - C.E.P.R. Discussion Papers - 2002

We analyse the determinants of opposition to biotechnology and pharmaceutical patents granted by the European Patent … Office between 1978–96. Opposition can be considered an early form of patent validity challenge suit. In our sample, 8.6% of … the patents are attacked in opposition proceedings. Using citation and patent family indicators we show that valuable …

Persistent link: https://www.econbiz.de/10005791233

Why every Economist should Learn some Auction Theory

Klemperer, Paul - C.E.P.R. Discussion Papers - 2000

This is a preliminary draft of an Invited Symposium paper for the World Congress of the Econometric Society to be held in Seattle in August 2000. We discuss the strong connections between auction theory and 'standard' economic theory, and argue that auction-theoretic tools and intuitions can...

Persistent link: https://www.econbiz.de/10005792157

Subgame Perfect Punishment for Repeat Offenders

Emons, Winand - C.E.P.R. Discussion Papers - 2002

First we show that for wealth-constrained agents who may commit an act twice, the optimal sanctions are the offender's entire wealth for the first crime, and zero for the second. Then we ask whether this decreasing sanction scheme is subgame perfect (time consistent), i.e., does a rent-seeking...

Persistent link: https://www.econbiz.de/10005792427

Expertise, Contingent Fees, and Excessive Litigation

Emons, Winand - C.E.P.R. Discussion Papers - 1996

Plaintiffs have either strong or weak cases. Both cases should be taken to court, yet weak cases need more work by the attorney than strong cases. Only the attorney knows whether a case needs additional work or not; the plaintiff is forced to rely on the attorney’s recommendation. We show that...

Persistent link: https://www.econbiz.de/10005114498

Spreading the Word: Geography, Policy and University Knowledge Diffusion

Belenzon, Sharon; Schankerman, Mark - C.E.P.R. Discussion Papers - 2010

Using new data on citations to university patents and scientific publications, and measures of distance based on Google maps, we study how geography affects university knowledge diffusion. We show that knowledge flows from patents are localized in two respects: they decline sharply with distance...

Persistent link: https://www.econbiz.de/10008642874

Can Post-Grant Reviews Improve Patent System Design? A Twin Study of US and European Patents

Graham, Stuart J.H.; Harhoff, Dietmar - C.E.P.R. Discussion Papers - 2006

This paper assesses the impact of adopting a post-grant review institution in the US patent system by comparing the … “opposition careers” of European Patent Office (EPO) equivalents of litigated US patents to those of a control group of EPO … employing these different methods in our data analysis. We find that EPO equivalents of US litigated patent applications are …

Persistent link: https://www.econbiz.de/10005666881

Escalating Penalties for Repeat Offenders

Emons, Winand - C.E.P.R. Discussion Papers - 2003

Agents may commit a crime twice. The act is inefficient so that the agents are to be deterred. Even if an agent is law abiding, they may still commit the act accidentally. The agents are wealth constrained. The government seeks to minimize the probability of apprehension. If the benefit from the...

Persistent link: https://www.econbiz.de/10005666925