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Topic 15: Antitrust and Intellectual property rights – review

A ntitrust Economics 2013. David S. Evans University of Chicago, Global Economics Group. Elisa Mariscal CIDE, Global Economics Group. Topic 15: Antitrust and Intellectual property rights – review . Topic 15| Part 1 8 January 2014. Date. Overview. Economics of Property Rights.

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Topic 15: Antitrust and Intellectual property rights – review

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  1. Antitrust Economics 2013 David S. Evans University of Chicago, Global Economics Group Elisa Mariscal CIDE, Global Economics Group Topic 15: Antitrust and Intellectual property rights – review Topic 15| Part 1 8 January 2014 Date

  2. Overview

  3. Economics of Property Rights

  4. Property Right is a Legally Enforceable Right to Exclude

  5. Property Rights Provide Key Economic Incentives

  6. Property Rights Solve the “Problem of the Commons”

  7. Social Benefits of Property Rights

  8. Social Cost of Property Rights

  9. The Tradeoff Decided by Market Economies

  10. Economics of Intellectual Property

  11. Intellectual Creations Can Lead to Immense Social Value

  12. But Should the Creators be Given Property Rights to the Products of Their Minds?

  13. The Economics of “Creations of the Mind”—Support for Protection.

  14. The Economics of “Creations of the Mind”—Further Support for Protection

  15. P Demand Value of New Product (increases from zero to this value (minus perhaps value of products it has displaced) MC Q Economics of “New Products:

  16. Economics of “New Products: For the United States the annual consumer’s surplus is approximately $78.1 million from the introduction of a new brand of cereal (Apple Cinnamon Cherrios).

  17. The Economics of “Creations of the Mind”— Support for Limiting Protection

  18. Most Market Economies Have Developed Devices for Stimulating Creativity that Balance These Trade-offs: Social Incentives

  19. Most Market Economies Have Developed Devices for Stimulating Creativity that Balance These Trade-offs: IP Rights

  20. Tension Between Antitrust and IP Protection

  21. Intellectual Property Grants “Monopoly” over Creation

  22. Antitrust Limits the Abuse of Market Power Possible tension between antirust and IP law: antitrust law limits monopoly power while IP law bestows market power. How can this be reconciled?

  23. The Benefits of Monopoly Recognized in Antitrust Jurisprudence

  24. Still Lots of Conflicts between Antitrust and IP that Need to be Resolved

  25. Licensing of IP

  26. When and Why Do Firms License?

  27. Overview

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