Much of the economic analysis on patent pools is theoretical, and nearly all of the models assume that participation is automatic - any firm with a relevant patent and an option to join a patent pool is assumed to do so. But allowing firms to opt out of patent pools is a far more realistic...

In recognition that participation in modern patent pools is voluntary, we present empirical evidence on participation rates and the factors that drive the decision to join a pool, including the profit sharing rules adopted by the pool's founders. In most participation contexts, the at-risk group...

Since the 2008-09 global financial crises, interest among policy makers in promoting innovative, ventures has exploded. The emerging great hubs of entrepreneurial activity, like Bangalore, Dubai, Shanghai, Silicon Valley, Singapore, and Tel Aviv, bear the unmistakable stamp of the public sector....

The infamous Blackberry case brought new attention to so-called 'patent trolls' and began the general association of trolls with 'non-practicing' patent holders. This has had important legal consequences: Namely, patent holders have been denied injunctive relief because they did not practice the...

Abstract Payment cards have been a perennial source of debate among economists. That debate received additional fodder in 2010 with passage in the US of the Durbin Amendment, which targets debit card interchange fees. I assess the Durbin Amendment, testing the interchange fee cap it imposes...

Ever since the first general-purpose charge card debuted in the early 1950s, pundits have been predicting the "cashless society". Over fifty years later, we may finally be getting close to that vision. This study is the first to examine empirically the move toward a cashless society using a...