according to stochastic processes of innovation, imitation and technology adaption in the global economy. …We present a class of dynamic general-equilibrium models of education, innovation and technology transfer to explain …. Innovation and human-capital accumulation appear as in-line engines of scale-invariant endogenous growth. Industries evolve …

that full protection against imitation, granted independently of the size of the lead, maximizes the average innovation … forward protection reduces the rate of innovation and imposing a nonobviousness requirement reduces R&D spending. It is shown … rate. -- Intellectual property rights ; persistent leadership ; cumulative innovation ; preemption ; forward protection …