Journal ArticleDOI
How do competitive pressures affect incentives to innovate when there is a market for inventions
TLDR
In this article, the authors argue that competition among producers, the demand side of the market for inventions, and competition among inventors, the supply side of patent protection, create incentives to innovate.Abstract:
Competition and intellectual property (IP) protections are complements in stimulating innovation. When IP is appropriable, a market for inventions forms and competitive pressures increase incentives to innovate. Competition among producers, the demand side of the market for inventions, and competition among inventors, the supply side of the market for inventions, create incentives to innovate. When IP is not fully appropriable, markets for inventions are limited and competitive pressures can decrease incentives to innovate. Firms vertically integrate R&D and production and share technology to appropriate the returns to IP. This implies that antitrust policy and IP protections are complements.read more
Citations
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Journal ArticleDOI
Technology and the Pursuit of Economic Growth.
TL;DR: Mowery and Rosenberg as discussed by the authors argue that the large potential contributions of economics to the understanding of technology and economic growth have been constrained by the narrow theoretical framework employed within neoclassical economies.
Journal ArticleDOI
The Production and Distribution of Knowledge in the United States.
Edwin Mansfield,Fritz Machlup +1 more
TL;DR: Machlup defined knowledge as "any human (or human-induced) activity designed to create, alter, or confirm in a human mind-one's own or anyone else's-a meaningful apperception, awareness, cognizance, or consciousness of whatever it may be" as discussed by the authors.
References
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Journal ArticleDOI
Absorptive capacity: a new perspective on learning and innovation
TL;DR: In this paper, the authors argue that the ability of a firm to recognize the value of new, external information, assimilate it, and apply it to commercial ends is critical to its innovative capabilities.
Book
The theory of economic development
TL;DR: Buku ini memberikan infmasi tentang aliran melingkar kehidupan ekonomi sebagaimana dikondisikan oleh keadaan tertentu, fenomena fundamental dari pembangunan EKonomi, kredit, laba wirausaha, bunga atas modal, and siklus bisnis as mentioned in this paper.
Book
The Theory of Industrial Organization
TL;DR: The Theory of Industrial Organization as discussed by the authors is the first primary text to treat the new industrial organization at the advanced-undergraduate and graduate level Rigorously analytical and filled with exercises coded to indicate level of difficulty, it provides a unified and modern treatment of the field with accessible models that are simplified to highlight robust economic ideas.
Book ChapterDOI
Economic Welfare and the Allocation of Resources for Invention
TL;DR: In this article, the determination of optimal resource allocation for invention will depend on the technological characteristics of the invention process and the nature of the market for knowledge, which is interpreted broadly as the production of knowledge.
Journal ArticleDOI