We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random …

This paper develops a model of repeated innovation with knowledge spillovers. The model's novel feature is that firms … compete on two dimensions: 1) product quality or cost, where one firm's innovation ultimately spills over to other firms; and … some circumstances dramatically reduce the long-run average level of innovation; 2) they lead to endogenous bunching, or …

innovation. After identifying pervasive market failures in innovation, it explains why those associated with the Nordic model may … be particularly conducive to innovation, and demonstrates that, in general, the optimal policies of the leader should … industrial policies, public investments, and systems of social protection), not only leading to more innovation, but ensuring …

fertility of an innovation in generating more innovations cannot be observed. The menu of patent scope can be implemented with …

which Northern innovation, Southern imitation, and FDI are all endogenous. Our model predicts that IPR reform in the South …, Northern resources will be reallocated to R&D, driving an increase in the global rate of innovation. We test the model …

analysis proceeds in stages. It begins with an exogenous rate of innovation in order to focus on the first two components. The … last two components are added by endogenizing the rate of innovation. Finally, the paper considers the role of foreign …

The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are … lead to a lower pace of innovation, and more generally, that long run effects may be the opposite of the short run effects …