Waters, James - Volkswirtschaftliche Fakultät, … - 2013
launch. We identify a novel trade off in piracy's effect on welfare. We find that piracy quickens sales times and raises … welfare in fixed capacity markets, and does the opposite in growing markets. In our model, consumers benefit from piracy … not very high rates. Purchase delay, transient heterogeneity, inelastic demand, and network externalities reduce piracy …