We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … lower than the social planner's benchmark, which suggests a role for patent policy. We focus on a “non-infringing inventive … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …

This paper develops a model of patent trolls to understand various litigation strategies employed by nonpracticing …

patentability standards at PTOs (Patent and Trademark Offices awarding so-called bad patents), not only “false innovators” have the … chance of being granted patents but also, and more interestingly, “true innovators” are forced to patent more intensively … distortions caused by bad patents. Moreover, we show that introducing a two-tiered patent system is unlikely to improve market …

This paper analyzes patent pools and their effects on innovation incentives. It is shown that the pro …-competitive effects of patent pools for complementary patents naturally extend for dynamic innovation incentives. However, this simple … case, the licensing fees reflect the strength of patents. Patent pools of complementary patents can be used to discourage …

We examine the Nash equilibria of a game where two national governments set patent breadth strategically. Broader … North can innovate, harmonization of patent breadth lowers welfare relative to the Nash equilibrium. When both countries can … innovate, harmonization toward narrower patent breadth may raise world welfare …

The doctrine of patent exhaustion implies that the authorized sale of patented goods “exhausts” the patent rights in …, in which the patent owner forfeits all rights upon an authorized sale, and presumptive exhaustion, in which the patent … owner may opt-out of exhaustion via contract. This paper offers the first economic model of domestic patent exhaustion that …

stage of the patenting process and the interplay with the patent office. This is followed by considering the perspective of … the patent and trademark offices (PTOs), in particular, acknowledging the limited resources that are available to PTOs …

This paper develops a theory of patent portfolios in which firms accumulate an enormous amount of related patents in … infringe on other firms' patent portfolios. We investigate how litigation incentives for the holders of patent portfolios … impact the incentives to introduce new products and draw welfare implications. We also consider a patent portfolio …