The paper offers a new theoretical framework to examine the role of intermediaries between creators and potential users of new inventions. Using a model of university-industry technology transfer, we demonstrate that technology transfer offices can provide an opportunity to economize on a...

There are industries that tend to remain monopolized, with successive generations of a good being introduced by an incumbent monopolist. This paper investigates the tendency of persistent leadership in durable goods industry. In particular it explores the implications of the durability of a good...