choose the size of their investment in innovation projects of unknown quality, the model yields a Pareto distribution for … use patent data across U.S. states and over time to provide evidence in support of a specific mechanism of the model …, namely, that export opportunities increase firm heterogeneity by fostering innovation …

This paper shows that households with positional concerns and convex status utility use gambling to attempt … results strongly indicate that households who care about status are more likely to participate in gambling and invest more in … gambling, while they save less. In addition, results regarding socio-economic and demographic characteristics are reported. For …

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are … entrepreneurial effort allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we …

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 …