In the policy debate, intellectual property is often justified by what seems to be a straightforward argument: if innovators are not protected against others appropriating their ideas, incentives for innovation are suboptimally low. Now, in most industries and for most potential users,...

Technologies such as social media, autonomous vehicles, and “big data” analytics generate enormous benefits for society, but they also create substantial harms. Many of these effects take the form of externalities—external benefits and harms that a decisionmaker (such as an inventor)...

The contributory infringement rule assesses liability to a third party that contributes tothe infringement of a patent. Not only are firms that directly infringe liable, those whoindirectly contribute are also liable. We investigate how this rule affects the creation of anetwork of members...

The contributory infringement rule assesses liability to a third party that contributes to the infringement of a patent. Not only are firms that directly infringe liable, those who indirectly contribute are also liable. We investigate how this rule affects the creation of a network of members...

The amount of greenhouse gas emissions and consequent climate changes and social responses will depend substantially upon the rapid development and widespread dissemination of a wide variety of new mitigation and adaptation technologies. The international approach adopted by the UN Framework...

A variety of commentators have called for the increased application of liability rules, including compulsory licenses, to intellectual property. Such arguments are well taken, but unfortunately stop short of advocating the full range of potential intellectual property entitlement allocations....

We present a selective survey of the economic theory of intellectual property rights. After a brief description of the institutional framework, we discuss policy objectives and some basic welfare tradeoffs in intellectual property design. We consider the extent to which social objectives can be...

Drug prices are uniquely susceptible to radical price reductions through generic competition. Patented pharmaceuticals may be priced at more than 30 times the marginal cost of production; the excess is the patent rent collected by the drug company while the patent and exclusive marketing periods...

Although scientists have for decades now had the ability to manipulate matter at the atomic level, we have yet to see the nanotechnological revolution that these scientists predicted would follow. Despite the years of effort and billions of dollars that have been invested into research and...