Intellectual Property and Antitrust Limitations on Contract: Comment
6 Pages Posted: 24 Aug 2010
Date Written: August 23, 2010
In their chapter in Dynamic Competition and Public Policy (2001, Cambridge University Press), Burtis and Kobayashi never defined their model’s discount rate, making replicating their simulation results difficult. Through our own simulations, we were able to verify their results when using a discount rate of 0.10. We also identified two new types of equilibria that the authors overlooked, doubling the number of distinct equilibria in the model.
JEL Classification: O30
Suggested Citation: Suggested Citation