The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are …

We introduce firm and worker heterogeneity into a model of innovation-driven endogenous growth. Individuals who differ …

knowledge associated with a patent paper pair therefore diffuses within two distinct intellectual property environments -- one …While the potential for intellectual property rights to inhibit the diffusion of scientific knowledge is at the heart … this debate is how intellectual property rights over a given piece of knowledge affects the propensity of future …

encouragement of creation and innovation. Optimal policy depends on the quantitative strength of these two forces. We give a …

Patent protection spurs innovation by raising the rewards for research, but it usually results in less desirable … allocations after the innovation has been discovered. In effect, patents reward inventors with inefficient monopoly power. However … patent monopoly, competitive firms may engage in inefficient levels of non-price competition -- such as marketing -- when …

fertility of an innovation in generating more innovations cannot be observed. The menu of patent scope can be implemented with …It may be advantageous to provide a variety of kinds of patent protection to heterogenous innovations. Innovations … protection in order to be encouraged. We model the problem of designing an optimal patent menu (scope and length) when the …

Because of their more limited inequality and more comprehensive social welfare systems, many perceive average welfare … "cutthroat capitalism" that generates greater inequality and more innovation and will become the technology leaders, while others …, those with cuddly reward structures, though poorer, may have higher welfare than cutthroat capitalists; but in the world …