It is a popular practice for firms to acquire a block share of their manufacturers' ownership. This paper studies the economic impacts of such partial vertical ownership (PVO) in the presence of downstream market competition. Prior studies of vertical integration suggest that firms benefit from...

Digital technology poses an enormous impact to the creation and dissemination of works of authorship. First of all, all kinds of information, including text, sound, graphics, and motion pictures, etc., are capable of being stored in a unitary digital format (i.e. translated into a sequence of...