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 …

We analyze the relationship between legal institutions, innovation and growth. We compare a rigid (law set ex … welfare, amount of innovation and output growth at intermediate stages of technological development - periods when legal …

workers contribute positively. We propose a theoretical model, highlighting the relationship between demographics, innovation …

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

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 …