We show that when the researcher’s (observable but not contractible) contribution to innovation is crucial, a covenant …

paper, we analyze a two-stage innovation game between one incumbent and a large number of entrants. In the first stage … innovation. In the second stage, successful entrants bid to be acquired by the incumbent. We assume that entrants cannot survive …&D approaches than the incumbent and are more likely to generate the highest value innovation. Thus, the need of entrants to be …

We study the interplay between transportation infrastructure, knowledge flows, and innovation. Exploiting historical … variation, we estimate the effect of U.S. interstate highways on regional innovation. We find that a 10% increase in a region …

Patents are a useful but imperfect reward for innovation. In sectors like pharmaceuticals, where monopoly distortions … lower prices. Innovation prizes and other non-patent rewards are becoming more prevalent in government's innovation policy … therefore can generate the right innovation incentives. …

externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that … innovation output is higher in regions where large and small firms coexist. The finding is robust to across-region as well as …

We study how the market for innovation affects enforcement of patent rights. Conventional wisdom associates the gains … potential gains from trade are more likely to change ownership, suggesting that the market for innovation is efficient. We also …

more likely in situations where the innovation step is large and the probability for a firm to be the only innovator is …

Cumulative innovation is central to economic growth. Do patent rights facilitate or impede such follow-on innovation …. Patent rights appear to block follow-on innovation only in the technology fields of computers, electronics and medical … small innovators, suggesting that patents may impede the ‘democratization’ of innovation. …

simple model of cumulative innovation is presented where technology spillovers arise endogenously through labour mobility. It … to develop an innovation is neither very high nor very low. Trade secret protection based on punitive damages is, except …