The conventional view that product heterogeneity limits the scope for collusion among oligolpolists has been challenged in recent theoretical work. This paper provides an argument in support of the conventional view by emphasising the role of uncertainty. I introduce the idea that, with...

Conventional wisdom holds that the pervasive uncertainty in copyright law is intolerable because it inhibits expression – those who would engage in lawful uses of copyrighted works abstain for fear of crushing liability. The conclusion is right but for the wrong reasons. It is based on the...