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The discussion in the text presumed a particular form of patent policy, which provided ex post monopoly power to the innovator. An alternative intellectual property rights policy is licensing: firms that have made an innovation can license the rights to use this innovation to others. This exercise asks you to work through the implications of this type of licensing. Throughout, think of the licensing stage as follows: the innovator can make a take-it-or-leave-it-offer to one or many firms so that they can buy the rights to use the innovation (and produce as many units of the output as they like) in return for some licensing fee ν. Consider a competitive environment, and show that if firm 1 is allowed to license its innovation to others, this can never raise its profits and can never increase its incentives to undertake the innovation. Provide an intuition for this result. Now modify the model, so that each firm has a strictly convex and increasing cost of producing, ψ1(q), and also has to pay a fixed cost of ψ0 > 0 to be active (so that the average costs take the familiar inverted U shape). Show that licensing can be beneficial for firm 1 in this case and therefore increase innovation incentives. Explain why the results differ between the two cases.
It is essential to identify, examine, and understand the history and foundations of health care in the U.S. as this will be the foundation for understanding health care systems though this course and in practice. Students will need to show a thor..
Suppose your company is considering three health insurance policies. The first policy requires no tests and covers all preexisting illnesses. The second policy requires that all covered employees test negative for the HIV virus.
Solve for an expression for the change in equilibrium GDP for anincrease in government expenditures equal to ΔG when taxes are held constant. An algebraic version of the simple model of the economy is: C = c0 + c1 Yd
Tangent distance nearest-neighbors. In each case choose the number of neighbors by tenfold cross-validation. Compare the results.
Consider a Cournot model where the market demand is P = a - qA - qB. Both firms have constant average and marginal cost of c. Demand, however, is uncertain: it is high (a = aH) with probability f and low (a = aL) with probability 1 - f.
Assume that Erica's preferences for wages and risk are given by the utility U =W x e-12R. Her friend Rambo's utility function is U = W x e-3R. Assume that W represents the hourly wage and that there is a range of job types within a particular firm..
The chamber of commerce of a Florida Gulf Coast community advertises that area residential property is available at a mean cost of $125,000 or less per lot. Suppose a sample of 32 properties provided a sample mean of $130,000 per lot
There are two firms that engage with a Cournot competition with the inverse demand curve given by P=1000-5Q. Suppose the two firms have constant marginal costs $5 and $10. a). Write down the profit function for each firmb). Firm 2 produces 10 units, ..
Compare the coefficients of S in regressions (1) and (2). Give both mathematical and intuitive explanations of the direction of the change. Also compare the coefficients of ASVABC in regressions (1) and (3) and explain the direction of the change.
tabulate or graph the results analyze and discuss the results noting any interesting tures expectedunexpected relate to
Compute the value of the deadweight loss associated with having an unregulated monopoly relative to having a regulated monopoly where a price is permitted that covers ATC.
The cost-versus-performance curves are exponential. Do you think this is representative of reality?
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