Engel, Christoph; Kleine, Marco - Max-Planck-Institut zur Erforschung von … - 2013
innovators are not protected against others appropriating their ideas, incentives for innovation are suboptimally low. Now in … most industries for most potential users, appropriating a foreign innovation is itself an investment decision fraught with … cost and risk. Nonetheless standard theory predicts too little innovation. Arguably the problem is exacerbated by …