I analyze the effect on consumer welfare of settlements of patent infringement lawsuits that consist of a royalty-free license for delayed entry by a potentially infringing horizontal competitor of the incumbent patent-holder. Settlements that split the remaining patent life in a way that...

We analyze decision-making in a simple model of the judicial hierarchy. We assume that trial court judges are more concerned with ex post efficiency with respect to the individuals involved in the cases at hand, and less concerned with ex ante efficiency with respect to the precedents...

An agency conflict arises when consumers rely on middlemen for product recommendations. While consumers want the middlemen to recommend the most suitable product, the middlemen may earn a higher profit if the consumer buys some other product. An important setting where this conflict arises is...