The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity, unless productivity is identified with the number of patents awarded—which, as evidence shows, has no correlation with measured productivity. Both theory...

The controversy over Intellectual Property Rights (patents and copyright) is here to stay. The steady accumulation of substantial empirical evidence casting serious doubts on the allegedly beneficial effects that iprs have on innovation and creativity is forcing an increasing number of...

The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity. There is strong evidence, instead, that patents have many negative consequences.

Az innováció és a növekedés versenyzői modelljét állandó mérethozadék mellett mutatjuk be. A korábbi állandó mérethozadékú növekedési modellek nem tudták a technológiai innovációkat kezelni. Az endogén innováció jelenlegi modelljei pedig a növekvő mérethozadék és a...

We study a simple model of factor saving technological innovation in a concave framework. Capital can be used either to reproduce itself or, at additional cost, to produce a higher quality of capital that requires less labor input. If higher quality capital can be produced quickly, we get a...

Based partially on the belief that innovation is not possible under perfect competition, a huge number of papers have been written about the nature of innovation under monopoly or oligopoly. In fact, competitive rents can and do sustain innovation in the complete absence of monopoly power....

Market booms are often followed by dramatic falls. To explain this requires an asymmetry in the underlying shocks. A straightforward model of technological progress generates asymmetries that are also the source of growth cycles. Assuming a representative consumer, we show that the stock market...