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Evidence on the "funding gap" for R&D is surveyed. The focus is on financial market reasons for underinvestment in R&D that persist even in the absence of externality-induced underinvestment. The conclusions are that 1) small and new innovative firms experience high costs of capital that are...
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innovation in high-technology markets. Traditionally, regulators focused on whether companies artificially hiked prices or … reduced output. Now, they're increasingly likely to look first at whether corporate behavior aids or impedes innovation. In … this paper, we examine whether innovation has displaced short-term price effects as the focus of antitrust enforcement by …
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As patent data become more available in machine-readable form, an increasing number of researchers have begun to use measures based on patents and their citations as indicators of technological output and information flow. This paper explores the economic meaning of these citation-based patent...
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breadth, and in Section IV we turn to the special problems that arise when innovation is cumulative. In Section V, we …
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higher rewards where "ideas are scarce." We then explore how rewards should be structured when the value of an innovation … comes from its applications, and ideas for the innovation may be more or less scarce than ideas for the applications. …
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decision itself. This paper discusses the likely impact of these patents on innovation. It first reviews the facts about … system and innovation. It concludes by finding some consensus in the literature about the problems associated with this …
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