The prize system for innovation has been criticized as impractical due to the lack of a workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinitely time domain as periodic bounties paid to holders of …

innovation for less than the full length of the patent and that royalty contracts can be used to overcome a time …

The prize system for innovation has been criticized as impractical due to the lack of any workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinite time domain as periodic bounties paid to holders of …

over the 1993-2003 period, firms with overconfident CEOs have greater return volatility, invest more in innovation, obtain …&D) expenditure. Overconfident managers only achieve greater innovation than non-overconfident managers in innovative industries …