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Royalty Licensing
(2009-09)
A patent provides its holder the monopolist´s right to sell licenses that allow the use of new technology. Empirically, most of the patent licensing agreements that are observed include royalties, in particular per unit ...
Mas-Colell, Whinston and Green Versus Scitovsky on Profit and Utility Maximization
(2005)
I contrast the theoretical foundation of profit maximization of Mas-Colell, Whinston and Green’s “Microeconomics” against that provided by Scitovsky in a paper of 1943. Whereas Mas-Colell, Whinston and Green try to show ...