Theoretical and empirical studies suggest a need for a flexible patent regime of differentiated length and scope for IT industry. This paper intends to analyze how structure of information asymmetry and shape of social welfare affect optimal patent life for specific area such as IT industry. The...

Investments in R&D and agricultural innovations have been fundamental to long-term economic growth worldwide. But global resource allocation has been uneven, with some developing countries closing in on developed-world scientific capacities, others regaining ground lost over the past decade or...