Akcigit, Ufuk; Celik, Murat Alp; Greenwood, Jeremy - Department of Economics, University of Pennsylvania - 2013
An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an...
