In this paper, we explore the economics of free under perpetual licensing. In particular, we focus on two emerging software business models that involve a free component: feature-limited freemium (FLF) and uniform seeding (S). Under FLF, the firm offers the basic software version for free, while...

Brands matter. In modern times, brands and brand management have become a central feature of the modern economy and a staple of business theory and business practice. Coca-Cola, Nike, Google, Disney, Apple, Microsoft, BMW, Marlboro, IBM, Kellogg’s, Louis-Vuitton, and Virgin are all large...

The emergence of transaction cost economics (TCE) in the early 1970s with Oliver Williamson’s successful reconciliation of the socalled neoclassical approach with Herbert Simon’s organizational theory can be considered an important part of the first cognitive turn in economics. The...

Brands and brand management have become a central feature of the modern economy and a staple of business theory and business practice. Contrary to the law’s conception of trademarks, brands are used to indicate far more than source and/or quality. This volume begins the process of broadening...

This essay summarizes our work on brands and competition. Brands and brand management have become a central feature of the modern economy and a staple of business theory and business practice. Brands also have important effects on competition and the marketplace; yet the two key areas of law...

The paper presents the cutting-edge approaches to economic expectations that originate in the field of computational intelligence. Firstly, the AI-based expectation concepts are situated within the long-standing debate about expectation formation in economics. They are discussed as a middle way...

Trademark law’s current conception of information and how trademarks enable information transmission is underdeveloped. It has led to a world where trademark law hinders rather than “fosters the flow of information in markets.” Instead of promoting information exchange across and within...

Our paper studies two attempts at integrating unemployment in macroeconomics. The first, due to Diamond, consists in a search model exhibiting multiple equilibria. The second is due to Andolfatto and Merz who, more or less simultaneously, were able to integrate the matching function in RBC...

Economists have long recognized that in free markets, incentives to innovate will be diluted unless some factors grant innovators with a temporary monopoly. Patenting is the most cited factor in the economic literature. This survey concentrates on another factor that confers innovators with...

Economists have long recognized that in free markets, incentives to innovate will be diluted unless some factors grant innovators with a temporary monopoly. Patenting is the most cited factor in the economic literature. This survey concentrates on another factor that confers innovators with...