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Patent Value and Uncertain Property Rights: Implications from Patent Litigation

by Alan C. Marco, Richard D. Millervia IP2 Working Paper Series
Friday, October 26, 2018

In this study, we use carefully constructed matched samples of litigated and non-litigated patents to investigate the characteristics that predict litigation. Survival time regressions allow us to demonstrate the separate impacts of value and uncertainty on litigation. In particular, standard essential patents are more likely to be litigated than non-SEPs. However, the earlier the disclosure is made, the lower the hazard of litigation. That is, when information is provided early to the market, uncertainty is reduced and the hazard of litigation is lower. 

Global Rate-Setting: A Solution For Standards-Essential Patents

by Jorge Contrerasvia IP2 Working Paper Series
Thursday, October 25, 2018

The commitment to license patents that are essential to technical interoperability standards on terms that are fair, reasonable and non-discriminatory (FRAND) is a fundamental mechanism that enables standards to be developed collaboratively by groups of competitors. Yet disagreements over FRAND royalty rates continue to bedevil participants in global technology markets and litigation regarding compliance with FRAND commitments has led an increasing number of courts around the world to adjudicate FRAND royalty rates using very different methodologies and doctrinal approaches. 

Information versus Automation and Implications for Dynamic Pricing

by Bryan K. Bollinger, Wesley R. Hartmannvia IP2 Working Paper Series
Wednesday, October 24, 2018

Essential resources like electricity and water can experience rapidly changing demand or supply while the other side of the market is unchanged. Short-run price variation could efficiently allocate resources at these critical times, but only if consumers exhibit short-run demand elasticity. The question for firms in these markets has always been how to enable this response. Randomized control trials are increasingly used to test dynamic pricing and technologies that can assist in response by providing information and/or automated response. 

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Black Swans, Dragon Kings And Gray Rhinos: The World War Of 1914-1918 And The Pandemic of 2020-?

by Niall Fergusonvia Hoover History Working Group
Monday, May 4, 2020

History Working Paper 2020-1

It has become a commonplace among beleaguered leaders seeking to rally popular support that the COVID-19 pandemic is a “war,” albeit against an “invisible enemy.” For a number of obvious reasons, a pandemic is very different from a war, of course. We think of a pandemic as a natural disaster, whereas a war as man-made.

Analysis and Commentary

The Failed Transparency Regime For Executive Agreements: An Empirical And Normative Analysis

by Oona A. Hathaway, Curtis A. Bradley, Jack Goldsmithvia SSRN
Thursday, April 30, 2020

The Constitution specifies only one process for making international agreements. Article II states that the President “shall have Power, by and with the Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur.” The treaty process has long been on a path to obsolescence, however, with fewer and fewer treaties being made in each presidential administration. Nevertheless, the United States has not stopped making international agreements. Even as Article II treaties have come to a near halt, the United States has concluded hundreds of binding international agreements each year. These agreements, known as “executive agreements,” are made by the President without submitting them to the Senate, or to Congress, at all. Congress has responded to the rise of executive agreements by imposing a transparency regime—requiring that all the binding executive agreements be reported to Congress and that important agreements be published for the public to see.

Original Sin and the Great Depression

by Michael D. Bordo, Christopher M. Meissnervia Economics Working Papers
Friday, April 24, 2020
Economics Working Paper 20101
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Funding Direct Payments To Americans Through Social Security Deferral

by Andrew G. Biggs, Joshua D. Rauhvia SSRN
Sunday, April 19, 2020

We analyze in this whitepaper a way of addressing both targeting and financing in a direct payment (or “stimulus check”) program to provide households with additional liquidity during the economic downturn associated with the COVID-19 virus: by allowing voluntary loans to individuals in which the proceeds would be paid back through deferral of Social Security retirement benefits at the time when the individual claims Social Security.