It is well known that innovation law and policy must strike a balance between incentivizing inventions on the one hand, and granting monopolies to successful innovators on the other. In achieving this balance, it is commonly presumed that actors in innovation markets respond to their economic...

By many measures, Ronald Coase has been among the most influential economists of the past 60 years. Why is this so? We suggest that Coase’s work has enduring appeal to and insight for social scientists in part because it addresses the biggest and most important social problems: How do we solve...