The post-grant review proceedings set up at the U.S. Patent and Trademark Office’s Patent and Trial Appeal Board by the America Invents Act of 2011 have transformed the relationship between Article III patent litigation and the administrative state. Not surprisingly, such dramatic change has...

Intellectual property (IP) is essential for commercialization in the knowledge-based economy. However, the creation of intellectual property rights (IPRs), which were originally developed for a world of sparse and sporadic invention, has led to potential stumbling blocks for industrialized...

In this paper, I present a dynamic oligopoly model of Airbus, Boeing, and used aircraft markets and employ a unique dataset to examine the interaction between innovation, production, and the used goods markets. My findings show that firms increase the development of new products in response to...

Following Miles and Snow’s Business Strategy (BS) topology, we find that banks imposerelatively higher loan spreads for the firms that follow an Innovation-Oriented Business Strategy(IOBS). We further document that IOBS is positively associated with corporate risk measures suchas variances in...

In this paper, we disentangle the changes that the rise of Artificial Intelligence Technologies (AITs) is inducing in the semiconductor industry. The prevailing von Neumann architecture at the core of the established “intensive” technological trajectory of chip production is currently...

Modern software development involves collaborative efforts and re-use of existing software packages and libraries, to reduce the cost of developing new software. However, package dependencies expose developers to the risk of contagion from bugs or other vulnerabilities. We study the formation of...

James G. March conceived organizational learning as a balance between the exploration of new alternatives and the exploitation of existing competencies in an organization. This study extends March's model to consider exploration and exploitation in a hierarchical organization. First, the effect...

We analyse how a patent-holding pharmaceutical firm may strategically use advertising of existing drugs to affect R&D investments in new (differentiated) drugs, and thereby affect the probability distribution of future market structures in the industry. Within a fairly general model framework,...