Alexander Galetovic

Visiting Fellow
Biography: 

Alexander Galetovic is a visiting fellow at the Hoover Institution. He is also Professor of Economics at the Universidad de los Andes in Santiago, Chile.

Galetovic research is about the economics of industries and the equilibrium determinants of industry structure. He has written extensively on competition and regulation of infrastructure industries---electricity, telecommunications, water and transport---. His recent book, The Economics of Public-Private Partnerships: A Basic Guide, which he coauthored with Eduardo Engel and Ronald Fischer, is a standard reference of the economics and policy of infrastructure concessions. Together with Engel and Fischer, Galetovic invented the least-present-of-revenue auction, which is routinely used by governments in many countries to procure transport infrastructure through public-private partnerships.

His current research is about the interplay of intellectual property and antitrust in high technology industries like mobile phones, semiconductors, and autonomous vehicles. During the last 50 years technological progress information technology has proceeded at unprecedented speed. Yet antitrust authorities see a constant tension between, on the one hand, intellectual property, patents and the right to exclude, and, on the other hand, intense competition. Indeed, in recent years many antitrust authorities around the world have taken the view that strong intellectual property may put competition and technological progress at risk. Galetovic’s research evaluates this tension critically and quantitatively and suggests that the concern of antitrust authorities is unfounded.

Galetovic is a professor at the Hoover IP2 Summer Institute, and a regular participant and presenter at Hoover IP2 conferences. He has been a Research Scholar at the International Monetary Fund, a Tinker Visiting Professor at Stanford and a Rita-Ricardo National Fellow at the Hoover Institution. He is also listed among Who’s Who Legal Competition Economists. He has been advisor on public-private partnerships to the Chilean government and multilateral organizations such as the World Bank, the Inter-American Development Bank and the OECD.

Galetovic holds a Bachelor’s degree from the Catholic University of and a Ph.D. in economics from Princeton University.

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Recent Commentary

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Royalty Stacking and Standard Essential Patents: Theory and Evidence from the World Mobile Wireless Industry

by Alexander Galetovic, Kirti Guptavia IP2 Working Paper Series
Friday, May 1, 2015

IP² Working Paper No. 15012 - The royalty stacking hypothesis states that each standard essential patent (SEP) holder will charge excessive royalties to downstream manufacturers.

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An Empirical Examination of Patent Hold-Up

by Alexander Galetovic, Stephen Haber, Ross Levinevia IP2 Working Paper Series
Monday, March 30, 2015

IP² Working Paper No. 15010 - A large literature asserts that standard essential patents (SEPs) allow their owners to “hold up” innovation by charging fees that exceed their incremental contribution to a final product.