Mukherjee, Arijit; Ray, Achintya - In: Economics of Innovation and New Technology 16 (2007) 3, pp. 227-236
We consider the effects of product and process patents on profits and welfare. In a duopoly model, we show that if the cost of imitation is not very large, prisoner's dilemma occurs under process patent, thus creating lower profit of each firm under process patent than under product patent....