This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

questions. The economy consists of many industries and firms engaged in cumulative (step-by-step) innovation. IPR policy … past innovations. With full patent protection, followers can catch up to the leader in their industry either by making the … same innovation(s) themselves or by making some pre-specified payments to the technological leaders. We prove the existence …

Despite the rapid pace of innovation in information and communications technologies (ICT) and electronics, aggregate US … stems in part from an unbalanced sectoral distribution of innovation over the last several decades. Because an industry …'s success in innovation depends on complementary innovations among its input suppliers, rapid productivity growth that is …

reduces carbon emissions by inducing substitution away from coal. Yet, the natural gas boom discourages innovation directed at …

innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing … comparative static results and characterizes potential distortions in the direction of innovation. I show that empirical findings …

"cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …

. After linking these ideas to the induced innovation literature of the 1960s and the more recent directed technological …

choice between incremental and radical innovation, and on how managers of different ages and human capital are sorted across … different firms with different degrees of openness to disruption, we provide firm-level, patent level and cross-country evidence … consistent with this pattern. Our measures of creative innovations proxy for innovation quality (average number of citations per …

change and innovation has radically changed the living standards of the citizens of the US in the past 150 years. Lying … the presence of post offices in a county, on innovation. We show that between 1804 and 1899, the time when the US became …