In this paper we clarify the differences between a procedure that uses an estimate of the standard cost and one that estimates an expenditure function. The former involves applying a structural form that requires an acceptable measurement of the outputs produced, while the latter opts for the...

The scale is the most famous emblem of the law, including intellectual property (IP). Because IP rights impose social costs on the public by limiting access to protected work, the law can be justified only to the extent that, on balance, it encourages enough creation and dissemination of new...