Risk aversion (a 2nd order risk preference) is a time-proven concept in economic models of choice under risk. More … recently, the higher order risk preferences of prudence (3rd order) and temperance (4th order) also have been shown to be quite … important. While a majority of the population seems to exhibit both risk aversion and such higher-order risk preferences, a …

This paper argues that the consequences of the 'fragmentation' of the European patent system are more dramatic than the … mere prohibitive costs of maintaining a patent in force in many jurisdictions. First, detailed analysis of judicial systems …-level competition policy and granting authority ultimately facing national jurisdictional primacy on patent issues. These high degrees …

forward protection reduces the rate of innovation and imposing a nonobviousness requirement reduces R&D spending. It is shown … that full protection against imitation, granted independently of the size of the lead, maximizes the average innovation …

distorts occupational choice. We study this possibility in the context of a model with horizontal innovation, where the …

health policy priorities. Patent buyouts, in which a public fund pays a mark-up on private valuations from sealed-bid second … vaccine research to fight international epidemics of infectious disease. The implementation of patent buyouts could be … Gesundheitsprobleme. Patent Buyouts, bei denen ein öffentlicher Fonds einen Aufschlag auf den durch ein Auktionsverfahren ermittelten …

Recent empirical studies suggest a need for a flexible patent regime responding to industry characteristics. In … practice, sector-specific modifications of patent strength already exist but lack theoretical foundation. This paper intends to … make up for this neglect by scrutinizing in what direction industry characteristics influence optimal patent strength. It …

Recent empirical studies suggest a need for a flexible patent regime responding to industry characteristics. In … practice, sector-specific modifications of patent strength already exist but lack theoretical foundation. This paper intends to … make up for this neglect by scrutinizing in what direction industry characteristics influence optimal patent strength. It …

innovation. We evaluate this argument in a dynamic stochastic model of a patent race. The result generally supports the …The U.S. has been under pressure to abandon the unique first-to-invent feature of its patent law for awarding patents …