whether – and how – prizes may encourage innovation, even without a cash award. Baseline tests compare changes in patents per … may encourage innovation, even in the absence of a cash award. It compares changes in patents per year after 1851 for …Prizes have become a prominent alternative to patents as a mechanism to encourage innovation. This paper exploits the …

This paper considers the prospect of a government patent buyout in a model of endogenous growth. To this end, the … shows that in this set-up, patent buyout by the government can lead to higher level of welfare without lowering an economy …