We formulate a simple model of optimal defensive disclosure by a monopolist facinguncertain antitrust enforcement and test its implications using unique data on defensivedisclosures and patents by IBM during 1955-1989. Our results indicate that strongerantitrust enforcement leads to more...

We formulate a simple model of optimal defensive disclosure by a monopolist facinguncertain antitrust enforcement and test its implications using unique data on defensivedisclosures and patents by IBM during 1955-1989. Our results indicate that strongerantitrust enforcement leads to more...

In this study, we empirically assess the contributions of inventors and firms for innovation using a 37-year panel of U.S. patenting activity. We estimate that inventors' human capital is 5-10 times more important than firm capabilities for explaining the variance in inventor output. We then...

In this study, we empirically assess the contributions of inventors and firms for innovation using a 37-year panel of U.S. patenting activity. We estimate that inventors’ human capital is 5-10 times more important than firm capabilities for explaining the variance in inventor output. We then...