This paper elaborates on the recent race to sequence the human genome. Starting from the debate on public vs. private research arising from the genome case, the paper shows that in some fundamental research areas, where knowledge externalities play an important role, market and non-market...

The decision to cooperate within R&D joint ventures is often based on expert advice such advice typically originates in a due diligence process, which assesses the R&D joint ventures profitability, for example, by appraising the achievability of synergies. We show that if the experts who advise...

Market-based instruments are widely used to encourage innovation and investment in cleaner technologies. Using a simple analytical framework and graphical representations, this paper provides a theoretical synthesis of the relationship between emissions prices/taxes and the firm's optimal...

We examine research and development (R&D) policies when a national firm forms an R&D alliance with a foreign competitor. Firms differ in their R&D capabilities, and adopt a profit-sharing rule when R&D decisions are coordinated. National R&D tax/subsidy policies are set independently or...

The federal government deploys a variety of institutions — patent, tax, and spending, among others — to encourage innovation. But legal scholars have given short shrift to how these institutions should be coordinated. In this Note, I argue that tax credits could be used to ameliorate a...

Journeys to a sustainable future have become important to industry, government and research. In this paper, we examine evolutionary, relational and durational perspectives on sustainability journeys. Each perspective emphasizes different facets of sustainability – shifts in selection...

We consider a simple game-theoretic multistage model in which a government can provide subsidies to different incumbent firms competing in a vertically differentiated oligopoly model. We find that a subsidy provided to the high-quality firm only, returns the highest net total surplus and net...

Leveraging a new measure of patent citation trees (Corredoira & Banerjee, 2015), we demonstrate that research funded by the federal government is likely to spark more active technological trajectories. Our findings tie government funding to the generation of breakthrough inventions. The...

Patent settlements between rivals restrain competition in many different ways. Antitrust requires them to be "proportional" in that their anti-competitive effects are commensurate with the firms' expectations about (counterfactual) patent litigation. Because these expectations are private and...

Novelty is a basic requirement of patent law. An inventor cannot obtain a patent if the invention exists in the “prior art,” a term that generally refers to knowledge and technology already in the public domain. Interestingly, an earlier-filed patent document qualifies as prior art as of its...