The analysis provides conditions under which Standard Setting Organizations (SSOs) choose efficient technology standards. I introduce a two-stage game with both voting and market competition. In equilibrium, standards and market outcomes are efficient even with market power from scarce capacity...

The combination of existing technologies is necessary for innovation. An important aspect of technology exchange between firms is that it generates both business creation and, possibly, business stealing. These countervailing effects generate potentially misaligned interests between technology...

I consider whether government prizes should replace market prices for inventions. The America COMPETES Reauthorization Act of 2010 establishes a framework for government prizes. I examine how antitrust and public policy towards patents should take into account the economic benefits of the market...

The article introduces a contract approach to patent infringement and develops a methodology for finding reasonable royalty damages. The contract approach complements approaches based on property and tort, thus providing a more complete understanding of damages. The article argues that the...

The market for ideas makes new combinations of inventions to form complex innovations such smart phones and mobile broadband networks. I show that bargaining in the market for ideas provides efficient coordination with complementary inventions. Extending neoclassical economic tools to the market...

The 5G mobile telecommunications standard is focusing increased attention on licensing of Standard Essential Patents (SEPs). SEP holders and technology implementers commit to negotiate license agreements on terms that are Fair, Reasonable, and Non-discriminatory (FRAND). Standard Setting...