Innovation is an inherently uncertain process. Success is typically coupled with risk and we can only hope that those … with great ideas will persevere. To encourage innovation, society reduces some of the innovation risk through structures … simply stop playing the game.Such uncertainty has recently been a topic of great concern in the U.S. patent system. Some …

This paper proposes a theoretical framework for studying the invention of new products when demand is uncertain. In … this framework, under general conditions, the threat of ex post entry by a competitor can deter invention ex ante … operating system monopolist, by its mere presence, can deter the invention of complements, to its own detriment as well as that …