In large games with transferable utility, core payoffs satisfy a comparative statics property: If the proportion of one type of player increases, then the core payoff to that type of player decreases (does not increase). Markets with transferable utility satisfy a similar property: if the...

The open source movement evolved in the one industrial context where openness is not required by intellectual property law.1 Nevertheless, openness itself cannot be the driving force behind the open source movement. This is because openness can be achieved in many ways other than the GPL, for...

JEL Classifications: L41, K21 Abstract: When infringement of a patent dissipates profit relative to the licensing agreement that would otherwise occur, damages under the lost-profit rule deter infringement, and otherwise not. We develop this point in a general model and give two examples....