During the past few decades, the interest of economists in the sources of long-term economic growth has led an increasing number of them to focus on the role of innovation in creating that growth. Although some researchers have always been interested in this topic, the groundbreaking work of...

This article explores a monopolist's incentive to distort the direction of technological change. For strategic reasons, the monopolist might invent and employ a socially undesirable technology. In so doing, he might jeopardize not only the vigor of product-market competition but also the...

Economic theory views patents as policy instruments aimed at fostering innovation and diffusion. Three major implications are drawn regarding current policy debates. First, patents may not be the most effective means of protection for inventors to recover R&D investments when imitation is costly...

The main objective of this paper is to analyze the links between product market competition, innovation and growth. In a step-by step innovation model we explicitly introduce the distinction between knowledge and technology information flows. Patents protect their holders from being imitated or...

The inadequacy of financial markets and their failures in the task of accomplishing the triple task of allocating resources, evaluating risk and, monitoring management has been used to justify the privatisation of industry. The French privatisations have yielded the following benefits: shares...

[fre] Diffusion du savoir et incitation à l'innovation : . le rôle des accords de coopération en recherche et développement . Dans le domaine de l'économie de la recherche et développement, un dilemme classique existe entre diffusion du savoir et incitation à la recherche. Alors que le...

In this paper, we revisit the issue of licensing 'weak' patents under the shadow of litigation. Departing from the seminal paper by <link rid="b7">Farrell and Shapiro [2008]</link>, we consider innovations of any size and not only 'small' innovations, and we allow the number of licensees to be less than the number of...

The paper investigates competition in price schedules among vertically differentiated dupolists. First order price discrimination is the unique Nash equilibrium of a sequential game in which firms determine first whether or not to commit to a uniform price, and then simultaneously choose either...