Critics claim that patent screening is ineffective, granting low-quality patents that impose unnecessary social costs. We develop an integrated framework, involving patent office examination, fees, and endogenous validity challenges in the courts, to study patent screening both theoretically and...

Competition and innovation both stimulate the development and growth of the economy. The mutual effect on prosperity and welfare growth have been researched and published extensively. The effect between innovation and competition is often overlooked and it is this very nexus that can provide us...

In this paper, we propose an economic model to analyse the sales out of new products. This model accounts for the fact that even among firms for which R&D is a permanent activity, a fraction of firms does not have sales of innovative products during a two-year observation period. We propose a...