, results in a higher level of innovation. …

, postulating that innovation and R&D cause long-run uncertainties in economic growth. (Copyright: Elsevier) …

innovators are not protected against others appropriating their ideas, incentives for innovation are suboptimally low. Now, in … most industries and 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 the …

addition to identifying a specific channel through which legal protections affect incentives for innovation and R&D, our …

An extensive empirical literature indicates that returns from innovation are appropriated primarily via mechanisms … assumes the pure nonrivalry of `ideas' with its implication that, in the absence of intellectual property, innovation (and … welfare) is zero. This paper introduces a formal model of innovation based on imperfect competition in which imitation is …

The underlying theoretical assumption of this paper is that if firms can imitate an innovation at a cost that is … substantially below the cost of the innovator to carry out the innovation, there may be little or no incentive to carry out the … innovation. Cost and time required for imitating new products and processes have an important effect on the incentives for …

market (innovation). It turns out that spillovers from rivals lead to more imitation, while input from customers and research … institutions enhance original innovation. …

the innovation process. Markets with high competition also force enterprises to produce imitative innovations but give …

frontier? This paper models agents growing as a result of investments in innovation and imitation. Imitation facilitates …

the second scenario. Such conditions imply the existence of an inverse-U shaped relationship between innovation and …