Cognitive Microfoundations for the Economics of Nonrival Goods
AbstractThis paper shows that the economics of nonrival goods cannot be fully comprehended without taking into account the role of intelligence differences among economic agents. The analysis focuses on Paul Romer’s contributions and explains that the study of the economics of ideas (memes) through an institutional lens alone misses the crucial economic implications of the interplay between genes and memes. Ideas appear to be nonrival if and only to the extent that we neglect wide individual differences in the capacity to appropriate ideas. Differences in intelligence among humans make the theoretically and politically appealing non-rivalry of ideas a practical falsehood.
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Bibliographic InfoArticle provided by Institute of Economic Sciences in its journal Economic Analysis.
Volume (Year): 43 (2010)
Issue (Month): 3-4 ()
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Paul Romer; innovation; imitation; nonrival goods; intelligence; creativity; knowledge spillovers; positive feedback loops;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
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