Standards reduce production costs and increase products' value to consumers. Standards however entail risks of anti-competitive abuse. After the adoption of a standard, the chosen technology normally lacks credible substitutes. The owner of the patented technology might thus have additional...

Standards contribute to increase welfare to the extent that they reduce production costs and increase products' value to consumers. The adoption of a standard can however raise competition concerns. After the adoption of the standard, the chosen technology may lack effective substitutes. The...