I examine the private and social efficiency of patent pools in a setting in which owners of intellectual property (IP), are both vertically and horizontally related. The relationship is vertical through the ownership of complementary IP and horizontal in that at least one member owns a competing...

Our objective in this paper is to review what economists have said about incentive schemes to promote R&D, including intellectual property. While we focus on environments in which other forms of protection are not available, we note that other protections can obviate the need for any formal...

Our objective in this paper is to review what economists have said about incentive schemes to promote R&D, including intellectual property. While we focus on environments in which other forms of protection are not available, we note that other protections can obviate the need for any formal...

In this paper, we adopt a disaggregate approach to modeling the components of gasoline demand. Gasoline demand in our model is viewed as the outcome of the following household decisions: vehicle holdings (number and type) and vehicle usage (nondiscretionary and discretionary usage). Modeling...

I examine the efficiency of patent pooling in a setting that allows for the interplay between the standards process, in which owners of essential intellectual property (IP) develop a new product, and the subsequent pooling decision, in which IP prices are coordinated. If one of the IP owners is...

In this article we examine the interaction between firms' product and process innovation decisions, and the role patent policy can play in directing technological change toward a socially efficient mix of innovations. Product innovation is a variant on a pioneer's new product; process innovation...