We focus on downstream uses that combine multiple intellectual property rights and examine the e¤ects of introducing an intellectual property clearinghouse. We identify the two sometimes con‡icting function of clearinhouses: transaction costs reduction and coordination. We show that reduction in transaction costs causes licensors to increase royalties in some cases and makes them worse o¤ due t...

This paper applies a model of complementary oligopoly and anticommons pricing to the market for intellectual property rights. Our model evidences the interesting and often overlooked result that, in the market for complementary goods price coordination and monopolistic pricing do not necessarily represent inefficient equilibria, when compared to the alternative Nash equilibrium. Due to the pecu...

“The theory of banking relates primarily to the operation of commercial banking. More especially it is chiefly concerned with the activities of banks as holders of deposit accounts against which cheques are drawn for the payment of goods and services. In Anglo-Saxon countries, and in other countries where economic life is highly developed, these cheques constitute the major part of circulating ...

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Are firms born Global? Because knowledge spillovers that lead to new venture creation are geographically constrained we believe that firms are born local. It follows that the decision to create sustainable new ventures is independent from the decision to internationalize, even if that is the ultimate goal of the firm. We explore two avenues to internationalize new ventures, a direct path descri...

This paper investigates international technology diffusion through trade and patenting in a sample of 48 countries for the period 1980 – 2000. We divide the sample in three income groups to detect different patterns of technology absorption. Our results show that rich countries benefit from domestic technology and foreign technology embodied in imported capital goods, middle-income countries en...

This paper explores the contradictions inherent in what has become the buzzword of the 1990’s: sustainable development. I argue that despite claims of a paradigm shift, the sustainable development paradigm is based on an economistic, not ecological rationality. Discourses of sustainable development embody a view of nature specified by modern economic thought. One consequence of this discourse i...