Vassar Scholarship

We develop a model of bargaining and litigation in the context of patent licensing (or any contractual setting). Following Priest and Klein (1984) we developed a model that explicitly allows for (1) multiple parties (leading to asymmetry of stakes), (2)...

In this note we investigate the infringement (entry) decision for a firm facing an incumbent patent holder with uncertain patent rights. The entrant risks a dispute by entering, resulting in either a settlement (licensing) or litigation and trial. Using the...

The diminishing of temporal and spatial boundaries in the contemporary age of connectivity has fully realized Beck, Giddens and Nash's "reflexive" modernity. This reflexive modernity refers to the diminishing control of traditional institutions on individual lives. In the shift towards...

In June 2005, the Supreme Court made one of its least popular decisions in recent history. In Kelo v. New London, the Court missed a simple point: that local decision makers make local decisions.

This paper presents structural estimates of the probability of validity, and the probability of Type I and Type II errors by courts in patent litigation. Patents are modeled as uncertain property rights, and implications of the model are tested using...

This paper merges patent citation data with data on pharmaceutical patent expirations, generic entry, and pricing to explore the effects of observable patent characteristics on off-patent and on-patnet pharmaceutical pricing. Using a sample of drug patents facing generic entry in...

This project follows the shifting geography of erotic companionship and the changing demographics of women who take on this kind of work. From origins in mining towns, urban centers, and Las Vegas brothels to home-based, online performances for audiences across...

The use of patent citations as a measure of patent "quality" increased dramatically in recent years. I estimate the hazard of patent citation, and find evidence of unobserved heterogeneity. Hazard estimation provides a means to separate patent quality from citation...

In this paper I present a real options model of patent litigation when patents are not perfectly enforceable. I consider both finite horizon and infinite horizon models. The theoretical results demonstrate that patent value depends not only on the underlying...

Using a sample of patents litigated between 1977 and 1997, I estimate stock market reactions to patent litigation decisions and to patent grants. I find that the resolution of uncertainty over validity and infringement is worth as much to the...