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Patent Protection As A Stimulant for Risky Innovation. Could TRIPS be Counterproductive?

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  • Andreas Panagopoulos

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Abstract

This paper introduces the idea that strong patent protection can lead innovators to rest on their laurels, into a simple tournament based framework. Concentrating on optimal patent protection, the one that maximizes production, the model shows that there is a positive relationship between the ability of the economy (firm) to innovate and how strong patent protection should be. This line of thinking runs counter to the uniÞed intellectual property regime, as introduced by TRIPS.

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File URL: http://www.efm.bris.ac.uk/economics/working_papers/pdffiles/dp04566.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Bristol, UK in its series Bristol Economics Discussion Papers with number 04/566.

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Length: 21 pages
Date of creation: Nov 2004
Date of revision:
Handle: RePEc:bri:uobdis:04/566

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Keywords: Intellectual property; sequential innovation; tournaments.;

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References

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  1. Ted O'Donoghue & Suzanne Scotchmer & Jacques-François Thisse, 1998. "Patent Breadth, Patent Life, and the Pace of Technological Progress," Journal of Economics & Management Strategy, Wiley Blackwell, Wiley Blackwell, vol. 7(1), pages 1-32, 03.
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  3. Charles I. Jones, . "Was an Industrial Revolution Inevitable? Economic Growth Over the Very Long Run," Working Papers, Stanford University, Department of Economics 99008, Stanford University, Department of Economics.
  4. Horowitz, Andrew W & Lai, Edwin L-C, 1996. "Patent Length and the Rate of Innovation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 785-801, November.
  5. Rebecca Achee Thornton & Peter Thompson, 2001. "Learning from Experience and Learning from Others: An Exploration of Learning and Spillovers in Wartime Shipbuilding," American Economic Review, American Economic Association, American Economic Association, vol. 91(5), pages 1350-1368, December.
  6. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  7. Suzanne Scotchmer, 1991. "Standing on the Shoulders of Giants: Cumulative Research and the Patent Law," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 5(1), pages 29-41, Winter.
  8. Andreas Panagopoulos, 2004. "When Does Patent Protection Stimulate Innovation?," Bristol Economics Discussion Papers, Department of Economics, University of Bristol, UK 04/565, Department of Economics, University of Bristol, UK.
  9. Nancy T. Gallini, 2002. "The Economics of Patents: Lessons from Recent U.S. Patent Reform," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 16(2), pages 131-154, Spring.
  10. Reinganum, Jennifer F., 1989. "The timing of innovation: Research, development, and diffusion," Handbook of Industrial Organization, Elsevier, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 14, pages 849-908 Elsevier.
  11. Josh Lerner, 2002. "150 Years of Patent Protection," American Economic Review, American Economic Association, American Economic Association, vol. 92(2), pages 221-225, May.
  12. Paul Klemperer, 1990. "How Broad Should the Scope of Patent Protection Be?," RAND Journal of Economics, The RAND Corporation, The RAND Corporation, vol. 21(1), pages 113-130, Spring.
  13. Pakes, Ariel & Schankerman, Mark A., 1978. "The Rate of Obsolescence of Knowledge, Research Gestation Labs, and the Private Rate of Return to Research Resources," Working Papers, C.V. Starr Center for Applied Economics, New York University 78-13, C.V. Starr Center for Applied Economics, New York University.
  14. Harris, Christopher & Vickers, John, 1987. "Racing with Uncertainty," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 54(1), pages 1-21, January.
  15. Beath, John & Katsoulacos, Yannis & Ulph, David, 1989. "Strategic R&D Policy," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 99(395), pages 74-83, Supplemen.
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