Staatslexikon

Ohne Zusammenfassung

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Staatslexikon

     

Finding "Lost" Profits: An Equilibrium Analysis of Patent Infringement Damages

We examine the impact of patent infringement damages in an equilibriumoligopoly model of process innovation where the choice to infringeis endogenous and affects market choices. Under the lost profitsmeasure of damages normally employed by U.S. courts, we findthat infringement always occurs in equilibrium with the infringingfirm making market choices that manipulate the resulting marketprofit of the patent holder. In equilibrium, infringement takesone of two forms: a "passive" form in which lost profits ofthe patent holder are zero and an "aggressive" form where theyare strictly positive. Even though the patentee's profits areprotected with the lost profits damage measure, innovation incentivesare reduced relative to a regime where infringement is deterred.     

Genetic improvements in major US crops: the size and distribution of benefits

The distribution of welfare gains of genetic improvements in major US crops is estimated using a world agricultural trade model. Multi-market welfare estimates were 75% larger than estimates based on the price-exogenous 'change in revenue' method frequently used by plant breeders. Annual benefits of these genetic improvements range from US$ 400–600 million depending on the supply shift specification. Of this, 44–60% accrues to the US, 24–34% accrues to other developed countries. Developing and transitional economies capture 16–22% of the welfare gain. The global benefits of a one-time permanent increase in US yields are US$ 8.1 billion (discounted at 10%) and US$ 15.4 billion (discounted at 5%). Gains to consumers in developing and transitional economies range from US$ 6.1 billion (10% discount rate) to US$ 11.6 billion (5% discount rate).     

Can the HM-test be brought to an end?

A significant change seen in the new regulatory framework for communications markets regards issues of market delineation. Relevant markets according to the new regulatory framework should be defined in accordance with competition law methodology/principles, most notably the so-called Hypothetical Monopolist Test (HM-test). Our discussion points to the conceptual and practical difficulties associated with evaluating the effects of a 5–10% price increase on the costs and therefore on the profitability of a hypothetical monopolist. Applying our analysis to fixed retail voice telephony markets we show that, in the presence of scale economies, final results crucially depend on assumptions about the cost function, in particular the relation of variable to fixed costs and the resulting (competitive) margin. The latter, in turn, will depend on the time horizon that is deemed to be relevant for market delineation purposes. Overall quantitative techniques applied to carry out the HM-test rigorously on empirical grounds are highly sensible to those assumptions a priori even if one assumes that (empirical) estimates of elasticities can be derived reasonably.*The views expressed are those of the authors and do not represent those of RTR or TKK.     

50 Jahre Kritik an der deutschen Zahlungsbilanz

For nearly 50 years Germany has been criticised for the surplus on its balance of payments, especially on the current account. In 1965 and 1976, Charles P. Kindleberger analysed this phenomenon and predicted its persistence. The causes he presented were structural (the structure of German exports, a special “propensity to export”, the docility of German labour, German innovation and technical progress) and macroeconomic (inflation abroad, the German propensities to save or not to absorb); institutional factors were responsible for an inadequate long-term capital export so that the export surplus led to an accumulation of foreign liquid assets. It is shown that these forces, with some modifications, are still prevalent. Instead of alleviating these problems, the European Economic and Monetary Union reinforced the tendency towards disequilibrium.     

Improving companies' impacts on sustainable development: A nexus approach to the SDGS

Companies play a decisive role in achieving the Sustainable Development Goals (SDGs). However, most of the world's sustainable development challenges are interconnected and systemic in their nature. How can companies ensure that their strategies effectively contribute to sustainable development? This interdisciplinary paper draws from the social-ecological systems, corporate sustainability, and sustainability sciences literatures, in order to introduce a nexus approach to corporate sustainability. A nexus approach induces companies to assess and manage their positive and negative interactions with the SDGs—which may arise directly and indirectly—in an integrated manner. Instead of treating SDGs as isolated silos, a nexus approach aims to advance multiple SDGs simultaneously (creating “co-benefits”) while reducing the risk that contributions to one SDG undermine progress on another (avoiding “trade-offs”). Through managing the interactions between the SDGs, a nexus approach to corporate sustainability enables companies to improve their societal and environmental impacts. This nexus approach is a step towards developing a theory of sustainability management that helps companies improve their impacts on sustainable development. Such systemic corporate sustainability strategies are sorely needed to drive progress towards achieving the SDGs and to safeguard companies from “SDG-washing.”