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uncertainty

Vassar Scholarship

Credibility and credulity: how beliefs about beliefs affect entry incentives

Publication Date
2006-November-13
Document Type
working paper
Authors
Kieran J. Walsh
Marco, Alan C.
Department or Program
Economics Department
Document Type
Working Paper
Abstract

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...

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Vassar Scholarship

Learning by suing: structural estimates of court errors in patent litigation

Publication Date
2006-November-07
Document Type
working paper
Authors
Marco, Alan C.
Department or Program
Economics Department
Document Type
Working Paper
Abstract

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...

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Vassar Scholarship

The value of certainty in intellectual property rights: stock market reactions to patent litigation

Publication Date
2005-November-15
Document Type
working paper
Authors
Marco, Alan C.
Department or Program
Economics Department
Document Type
Working Paper
Abstract

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...

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