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 …

-competitive patent settlements and hold-ups in relation to standard setting processes, in addition to the modern focus on mergers that … potentially lessen incentives for innovation and on abuse of dominance/single firm exclusionary practices in IP-intensive network … importance for economic advancement and prosperity, having a direct bearing on innovation, growth and the diffusion of new …