[curio_Pol_curio]

PP's point has (mostly?) been addressed in

https://www.aeaweb.org/articles?id=10.1257/mac.20180386

Inputs that can be monopolized are manifestly _not_ the intangibles; price-taking is independent of their effect

[gwerbin]

I don't think they implied that those inputs are the intangibles, only that the functional form assumption in the 2018 paper is unrealistic.