identifies a number of specific fact patterns under which the current U.S. patent system allows patent holders to capture private … deadweight loss associated with the patent system and discourage innovation by others. Economic efficiency is promoted if rewards … to patent holders are aligned with and do not exceed their social contributions. This paper analyzes two major reforms to …

The “monopoly” authorized by the Patent Act refers to the exclusionary power of individual patents. That is not the … same thing as the acquisition of individual patent rights into portfolios that dominate a market, something that the Patent … Act never justifies and that the antitrust laws rightfully prohibit.Most patent assignments are procompetitive and serve …

Theoretically, whether technology firms should increase external R&D in response to stronger patent law depends on the … effects of law on returns to external and internal R&D. Exploiting geographical differences in the strengthening of patent …

identifies a number of specific fact patterns under which the current U.S. patent system allows patent holders to capture private … deadweight loss associated with the patent system and discourage innovation by others. Economic efficiency is promoted if rewards … to patent holders are aligned with and do not exceed their social contributions. This paper analyzes two major reforms to …

, but they also create substantial harms. Many of these effects take the form of externalities—external benefits and harms … externalities, for example, social media networks spread misinformation throughout the electorate, autonomous vehicles threaten the … seizures. Externalities can cause inefficient resource allocation, and the classic remedy is to “internalize” externalities by …