Licensing promotes technology transfer and innovation, but enforcement of licensing contracts is often imperfect. We model contract enforcement as a game with perfect information but probabilistic enforcement and explore the implications of weak enforcement on the design of licensing contracts,...

A number of antitrust cases have challenged firm conduct associated with the introduction of a new product. Several are in the pharmaceutical industry and have earned the moniker of “product hopping.” Other cases involve the design of interfaces that defeat interoperability and the supply of...

Stepwise models of technological progress described by Philippe Aghion and his co-authors (1997, 2001, 2005) capture the incentives of firms to innovate in order to escape competition and the disincentives from sharing profits with other technological leaders. The models yield intuitively...

Antitrust cases, including recent complaints filed against dominant technology platforms, have alleged conduct that harms innovation. Section 2 of the Sherman Act is sufficiently broad to address conduct that harms innovation, but courts have little experience adjudicating such allegations. This...