We consider a monopoly market setup with legal error, where social welfare is negatively related to a firm's expected liability costs. In this context, we investigate the optimal location of the due-care standard vis-agrave;-vis any given desired care level. It is found that when both the...

This paper analyzes how university patents encourage university-firm collaboration for technology transfer. Focusing on factors other than competition, I find that the two may not collaborate either because the firm finds in-house development cheaper, or because of a disagreement about the...

The purpose of this paper is to explore the joint use of regulation and strict liability when firms can take care in both observable and unobservable dimensions and when the firm's conviction for damages is uncertain. Much of the literature concerning joint use regards management of the...