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Lost Profits from Patent Infringement: The Simulation Approach

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Author Info

  • Gregory Werden
  • Luke Froeb
  • James Langenfeld

Abstract

A patent owner is entitled to recover any additional profits that would have been earned but for infringement. This paper suggests the use of an adaptation of merger simulation to assess lost profits in patent infringement cases. A model of the industry with infringement is calibrated to observed prices and quantities and estimated demand elasticities. Lost profits are then estimated by calculating a new equilibrium without the infringing product(s).

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File URL: http://www.tandfonline.com/10.1080/13571510050084541
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal International Journal of the Economics of Business.

Volume (Year): 7 (2000)
Issue (Month): 2 ()
Pages: 213-227

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Handle: RePEc:taf:ijecbs:v:7:y:2000:i:2:p:213-227

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Related research

Keywords: Simulation; Patents; Damages;

References

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  1. Werden, Gregory J & Froeb, Luke M, 1994. "The Effects of Mergers in Differentiated Products Industries: Logit Demand and Merger Policy," Journal of Law, Economics and Organization, Oxford University Press, vol. 10(2), pages 407-26, October.
  2. Werden, Gregory J., 1997. "Simulating The Effects Of Differentiated Products Mergers: A Practitioners' Guide," Proceedings: Strategy and Policy in the Food System: Emerging Issues, June 20-21, 1996, Washington, D.C. 25942, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
  3. Werden, G.J., 1992. "The History of Antitrust Market Delineation," Papers 92-8, U.S. Department of Justice - Antitrust Division.
  4. Brownstone, David & Train, Kenneth, 1998. "Forecasting new product penetration with flexible substitution patterns," Journal of Econometrics, Elsevier, vol. 89(1-2), pages 109-129, November.
  5. Werden, G.J. & Froeb, L.M. & Tardiff, T.J., 1994. "The Use of the Logit Model in Applied Industrial Organization," Papers 94-1, U.S. Department of Justice - Antitrust Division.
  6. Steven Tschantz & Philip Crooke & Luke Froeb, 2000. "Mergers in Sealed versus Oral Auctions," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 7(2), pages 201-212.
  7. Werden, G.J. & G.J. & Froeb, L.M., 1995. "Simulation as an Alternative to Structural Merger Policy in Differentiated Products Industries," Papers 95-02, U.S. Department of Justice - Antitrust Division.
  8. Lance Brannman & Luke M. Froeb, 2000. "Mergers, Cartels, Set-Asides, and Bidding Preferences in Asymmetric Oral Auctions," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 283-290, May.
  9. Gregory J. WERDEN, 1997. "Simulating The Effects Of Differentiated Products Mergers: A Practitioners' Guide," Department of Resource Economics Regional Research Project 967, University of Massachusetts.
  10. Philip Crooke & Luke Froeb & Steven Tschantz & Gregory Werden, 1999. "Effects of Assumed Demand Form on Simulated Postmerger Equilibria," Review of Industrial Organization, Springer, vol. 15(3), pages 205-217, November.
  11. Berry, Steven & Levinsohn, James & Pakes, Ariel, 1995. "Automobile Prices in Market Equilibrium," Econometrica, Econometric Society, vol. 63(4), pages 841-90, July.
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Citations

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Cited by:
  1. Dubin, Jeffrey A., 2007. "Valuing intangible assets with a nested logit market share model," Journal of Econometrics, Elsevier, vol. 139(2), pages 285-302, August.
  2. Matthew D. Henry & John L. Turner, 2010. "PATENT DAMAGES AND SPATIAL COMPETITION -super-* ," Journal of Industrial Economics, Wiley Blackwell, vol. 58(2), pages 279-305, 06.
  3. David Weiskopf, 2000. "The Impact of Omitting Promotion Variables on Simulation Experiments," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 7(2), pages 159-166.

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