Technology has always been at the heart of economic development. This knowledge has been kept private through a variety of means throughout history, but through the patent system, technology has become tradable in its own right. Its original purpose was clearly to promote invention (technology...

1. Introduction -- 2. Theory of Value -- 3. Today’s Balance of Payment Statistics and Data Gap -- 4. Today’s Financial Accounting Standards and Data Gap -- 5. Overview of the Framework -- 6. Description of the Collection and Compilation of Data for each Element -- 7. A Proof-of-Concept Study...

"The economic system is generally understood to operate on the premise of exchange. The most important factor in economic development has always been technology, as a way to expand a limited resource base. Such increase in technology and knowledge is generally accepted by economists, but the...

The patent system makes organized markets in patents with transparent prices possible. Such prices are here investigated as "signals" for inventors and innovators alike of valuable "technology areas," in an experimental study. They inform decisions of specialized "firms" on allocation of...

The question of how prices on patents rights should be determined in impersonal exchanges is examined in a laboratory environment. Dynamic gains from such organized trade with public prices are recorded. The experiment introduces a competitive market with impersonal exchange mechanisms and...

We are well familiar with the economic analysis of a patent system in terms of a temporary monopoly on products, benefitting from marginal process inventions, formulated under conditions of certain future demands. This article develops an experimental and dynamic microeconomic model useful for...

We are well familiar with the economic analysis of a patent system in terms of a temporary monopoly on products, benefitting from marginal process inventions, formulated under conditions of certain future demands. This article develops an experimental and dynamic microeconomic model useful for...

The patent system makes organized markets in patents with transparent prices possible. Such prices are here investigated as “signals” for inventors and innovators alike of valuable “technology areas”, in an experimental study. They inform decisions of specialized “firms” on...

The question of how prices on patents rights should be determined in impersonal exchanges is examined in a laboratory environment. Dynamic gains from such organized trade with public prices are recorded. The experiment introduces a competitive market with impersonal exchange mechanisms and...