In a market with stochastic demand at most one seller can acquire costly informationabout demand. Other sellers entertain idiosyncratic beliefs about the marketdemand and the probability that an informed seller is trading in the market. Theseidiosyncratic beliefs co-evolve with the potential...

The article outlines the situation in Germany regarding the organization of transfer of technology from universities to industry, and reveals that one of the weaknesses of the system is the lack of awareness in universities of a basic knowledge of intellectual property and the need for its...