Innovation and Institutions is an extensive elaboration on the make up of systems of innovation. It examines why some … countries are more innovative than others, why national styles of innovation differ, and goes on to explore why some countries …

Incentivizing innovation through buyouts may alleviate the social costs associated with patent power, but the political … setting of countries with different innovation and financing capabilities, and where financing governments rely on taxes to …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … lower than the social plannerś benchmark, which suggests a role for patent policy. We focus on a "non-infringing inventive … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …