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NBER Working Papers and Publications
|October 2008||The Effect of HRM Practices and R&D Investment on Worker Productivity|
with Fredrik Andersson, Clair Brown, Benjamin Campbell, Hyowook Chiang
in The Analysis of Firms and Employees: Quantitative and Qualitative Approaches, Stefan Bender, Julia Lane, Kathryn Shaw, Fredrik Andersson, and Till von Wachter, editors
|August 2005||Digital Rights Management and the Pricing of Digital Products|
with Suzanne Scotchmer: w11532
As it becomes cheaper to copy and share digital content, vendors are turning to technical protections such as encryption. We argue that if protection is nevertheless imperfect, this transition will generally lower the prices of content relative to perfect legal enforcement. However, the effect on prices depends on whether the content providers use independent protection standards or a shared one, and if shared, on the governance of the system. Even if a shared system permits content providers to set their prices independently, the equilibrium prices will depend on how the vendors share the costs. We show that demand-based cost sharing generally leads to higher prices than revenue-based cost sharing. Users, vendors and the antitrust authorities will typically have different views on what ca...