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Network Externalities, Competition, and Compatibility
Technology Adoption in the Presence of Network Externalities
We analyze technology adoption in industries where network externalities are significant. The pattern of adoption depends on whether technologies are sponsored. A sponsor is an entity that has…
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Systems Competition and Network Effects
This paper discusses firm behavior, market performance, and the public and private institutions that arise in systems markets, i.e., markets where consumers use compatible components together to…
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An Analysis of Cooperative Research and Development
I analyze the effects of cooperative research, whereby member firms agree to share the costs and fruits of a research project before they undertake it. In this model industrywide agreements tend to…
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An Analysis of Out-of-Wedlock Childbearing in the United States
This paper relates the erosion of the custom of shotgun marriage to the legalization of abortion and the increased availability of contraception to unmarried women in the United States. The decline…
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Game-Playing Agents: Unobservable Contracts as Precommitments
The players in most economically important games are agents, not principals. This raises the possibility of the principal's setting a strategic compensation scheme. The central question addressed…
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On the licensing of innovations
We study a three-stage, asymmetric duopoly game of RD (2) fixed-fee licensing of the innovation; and (3) sale of the final product. We find that major innovations will not be licensed, but that…
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The Welfare Effects of Third-Degree Price Discrimination in Intermediate Good Markets
This paper examines third-degree price discrimination by an intermediate good monopolist selling to downstream firms that differ in their abilities to integrate backward into supply of the input. It…
How to License Intangible Property
We examine the optimal licensing strategy of a research lab selling to firms who are product market competitors. We consider an independent lab as well as a research joint venture. We show that (1)…
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R&D Rivalry with Licensing or Imitation
The authors study the rivalry between two firms to develop an innovation in a dynamic setting that allows for post-development dissemination of the innovation, such as licensing or imitation. This…
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