"We extend Kamien and Tauman's (1986) analysis of the value of a patent. We find that an inventor can always design a fixed fee plus royalty contract such that his revenue is equal to the profit a monopoly endowed with the innovation could make on the market. This implies that the social value...

This paper examines whether exit favours maximal or minimal differentiation within an infinite horizon supergame with discounting played by three firms. With more than two firms, the problem of which firm exits the market is similar to a coalition formation one. Solving this coalition formation...

This paper looks at a situation where a licensor owns a patent on a technology that allows the production of a new good. The licensor seeks to license its innovation to a set of producers that differ according to their marginal cost of producing an existing good. We show that the licensor is...