This paper develops a three-stage model of innovation, fixed-fee licensing and production to evaluate the welfare … an ambiguous effect on total welfare, but it is more likely to increase total welfare in industries which are naturally …. These welfare results hold independently of whether R&D incentives in the absence of licensing favour the leading firm …

affect their differentiation of program content. This study examines the welfare effects of commercial ceilings in a two …-sided free-to-air TV market, taking into account welfare with respect to content differentiation. We identify a second …-best commercial ceiling that maximizes welfare in the absence of enforceable program content regulation and identify the situations in …

ordering these consolidation strategies by multiplier size or their welfare consequences leads to very different rankings. With … respect to welfare gains cuts in government consumption rank highest because they yield the largest increase in private … has the largest positive effects on output, yet the welfare consequences rank lowest since labor input does not decrease …