Patents are typically characterized as assets of great values. Nevertheless, there are many patents that are actually never used. In this article, we claim that there is a relationship between the duration of patents and the characteristics of the underlying invention. From the viewpoint of...

The concept of production efficiency has been studied since the 1960s, but consumption activity as well may be inefficient for various reasons, such as product complexity, lack of information, the bounded rationality of the consumer and imperfect markets, to name a few. This study proposes a...