We provide a possible explanation for the empirical puzzle that mergers often reduce profits, but raise share prices … derived in an endogenous-merger model, predicting the conditions under which mergers occur, when they occur, and how the …

This paper focuses on the class of legal rules that governs intellectual property rights: the antitrust limits imposed … on patent settlements. The paper discusses the benefits and costs of settlements and explains why antitrust limits on …. This paper explores a simple antitrust rule governing settlements of intellectural property disputes: a settlement cannot …

predict the price and welfare effects of horizontal mergers in differentiated products industries. Simulation using a …