as increase to yearly wages. If, prior to patent expiration, a `new innovation' that facilitates retention of production … patent and seeks to protect itself against competition which feasibly emerges at expiration of patent protection. Formal … `low cost' country at patent expiration Pareto dominate every other feasible strategy, as such, is first-best strategy. In …

to integrate endogenous technological progress. Nevertheless, several complexities of innovation are still neglected even … modelling literature through a special lens. We discuss how existing models deal with different types of innovation (i ….e. product and process innovation) and how differences in innovation activities influence modelling results. We also emphasise …

In this paper we study the welfare effect of a monopoly innovation. Unlike many partial equilibrium models carried out … detail. We discover that technical innovation carried out by a monopolist could significantly increase the social welfare. We … conclude that, in general, the criticism against monopoly innovation based on its increased deadweight loss is less accurate …