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Matching Demand and Supply in a Weightless Economy: Market-Driven Creativity With and Without IPRs

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  • Quah, Danny

Abstract

Many cultural products have the same non-rival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic ? societies tolerate monopolistic inefficiency in intellectual property (IP) protection to incentivize the creation and distribution of intellectual assets. This Paper examines that trade-off in dynamic, representative agent general equilibrium, and characterizes socially efficient creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation.

Suggested Citation

  • Quah, Danny, 2002. "Matching Demand and Supply in a Weightless Economy: Market-Driven Creativity With and Without IPRs," CEPR Discussion Papers 3317, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:3317
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    Cited by:

    1. Patrick Legros, 2005. "Art and the Internet: Blessing the Curse?," Levine's Bibliography 666156000000000502, UCLA Department of Economics.
    2. Lars Frederiksen & Silvia Rita Sedita, 2005. "Embodied Knowledge Transfer Comparing inter-firm labor mobility in the music industry and manufacturing industries," DRUID Working Papers 05-14, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.

    More about this item

    Keywords

    Cultural good; Finitely expansible; Innovation; Intellectual asset; Intellectual property; Internet; Ip valuation; Ipr; Knowledge product; Mp3;
    All these keywords.

    JEL classification:

    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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