We study a general equilibrium model where agents search for production and trading opportunities, that generalizes the existing literature by considering a large number of differentiated commodities and agents with idiosyncratic tastes. Thus, agents must chose nontrivial exchange as well as...

In this paper we study the indeterminacy of equilibria in infinite horizon capital accumulation models with technological externalities. Our investigation encompasses both models with bounded and unbounded accumulation paths, and models with one and two sectors of production. Under reasonable...

The case against patents can be summarized briefly: there is no empirical evidence that they serve to increase innovation and productivity. There is strong evidence, instead, that patents have many negative consequences.

The controversy over Intellectual Property Rights (patents and copyright) is here to stay. The steady accumulation of substantial empirical evidence casting serious doubts on the allegedly beneficial effects that iprs have on innovation and creativity is forcing an increasing number of...