intellectual property right design. We derive conclusions in the simplest, one-time innovation, case then investigate how these … optimal procurement of innovation are considered. Finally, we sketch enforcement and competition policy issues. …

An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … and patents. We document key empirical facts on inventors' productivity over the life cycle, inventors' research teams … better inventors are very strongly correlated with higher subsequent productivity. These facts motivate the main ingredients …

An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with … and patents. We document key empirical facts on inventors' productivity over the life cycle, inventors' research teams … better inventors are very strongly correlated with higher subsequent productivity. These facts motivate the main ingredients …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …