This paper examines an ex-post rationale for the patenting of scientific discoveries. In this model, scientists do not know which firms can make use of their discoveries, and firms do not know which scientific discoveries might be useful to them. To bridge this gap, either or both sides need to...

This paper examines an ex-post rationale for the patenting of scientific discoveries. In this model,scientist do not know which firms can make use of their discoveries, and firms do not know whichscientific discoveries might be useful to them. To bridge this gap, either or both sides need to...

In this paper we study a two-player investment game with a first mover advantage in continuous time with stochastic payoffs, driven by a geometric Brownian motion. One of the players is assumed to be ambiguous with maxmin preferences over a strongly rectangular set of priors. We develop a...