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We examine the problem faced by a company that wishes to purchase patents in the hands of two di¤erent patent owners. Comple-mentarity of these patents in the production process of the company is a prime e¢ciency reason for them being owned (or licenced) by the company. We show that this very same complementarity can lead to patent owners behaving(More)
In this paper we examine a database assembled from an Australian public register of 553 merger decisions taken between March 2004 and July 2008. Mergers may be accepted without public assessment, accepted in conjunction with publication of a Public Competition Assessment, or rejected. We estimate an ordered probit model, using these three possible outcomes,(More)
Flavio Menezes acknowledges the financial assistance from the Australian National University and from IMPA/CNPq (Brazil). We thank G. Mailath and seminar participants at ANU for helpful comments. The usual disclaimer applies. Abstract Suppose a seller wants to sell k similar or identical objects and there are n > k potential buyers. Suppose that buyers want(More)
We analyze simultaneous discrete public good games with incomplete information and continuous contributions. To use the terminology of Ad-mati and Perry (1991), we consider contribution and subscription games. In the former, contributions are not refunded if the project is not completed , while in the latter they are. We provide necessary conditions that(More)