The intent of the patent system is to encourage innovation by granting the innovator exclusive rights to a discovery for a limited period of time: with monopoly power, the innovator can recover the costs of creating the innovation which otherwise might not have existed. And, over time, the...

Kolstad.s (1994) model of intertemporal, competitive supply to a linear market from two distinct exhaustible resource deposits admits two di¤erent interior solutions . one with the low cost deposit "earning" the higher resource rent and the other with the low cost deposit "earning" the lower...