Consider an incumbent monopolist faced with potential competitors who can enter the market by developing a substitute, but inferior, technology. What is the incumbent's optimal licensing policy? When, to whom and under what conditions should the incumbent firm license its superior technology?...

This paper examines the effects on conduct and performance of allowing members of an industry-wide research joint venture to exercise a greater monopoly power in the downstream product market. I identify necessary and sufficient conditions for joint commercialization of cooperative research...