We analyze how the introduction of digital technologies for storing and distributing information affects the incentives to enforce copyrights protection. We first characterize the conditions under which the change from non-digital to digital distribution may enhance or reduce profits. Secondly,...

The author constructs a theoretical model to examine the effects of an inherent conflict of interest between a seller of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker’s commission rates that would maximize the seller’s expected gain....