patentability standards at PTOs (Patent and Trademark Offices awarding so-called bad patents), not only "false innovators" have the … chance of being granted patents but also, and more interestingly, "true innovators" are forced to patent more intensively … distortions caused by bad patents. Moreover, we show that introducing a two-tiered patent system is unlikely to improve market …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …