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 …

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

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 …

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 …

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 …

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 …

We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose … production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are … standardization rate (and of competition). Second, we characterize the growth and welfare maximizing speed of standardization. We show …

independent of whether IP has already been granted. In contrast, the need to disclosure complementary (yet unprotected) knowledge … information about cooperative licensing and the timing of patent allowances (the administrative event when patent rights are … significantly increases after patent allowance. Moreover, the impact of the patent system depends on the strategic and institutional …