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The economics of ideas and intellectual property

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Author Info
Michele Boldrin
David K. Levine

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Abstract

Innovation and the adoption of new ideas are fundamental to economic progress. Here we examine the underlying economics of the market for ideas. From a positive perspective, we examine how such markets function with and without government intervention. From a normative perspective, we examine the pitfalls of existing institutions, and how they might be improved. We highlight recent research by ourselves and others challenging the notion that government awards of monopoly through patents and copyright are ?the way? to provide appropriate incentives for innovation.

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Paper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 357.

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Date of creation: 2005
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Handle: RePEc:fip:fedmsr:357

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Related research
Keywords: Technological innovations ; Intellectual property;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Michele Boldrin & David K. Levine, 2004. "Rent-seeking and innovation," Staff Report 347, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  2. Gene M. Grossman & Edwin L.-C.Lai, 2002. "International Protection of Intellectual Property," Governance Working Papers 188, East Asian Bureau of Economic Research. [Downloadable!]
  3. Nancy Gallini & Suzanne Scotchmer, 2001. "Intellectual Property: When Is It the Best Incentive System?," Department of Economics, Working Paper Series 1010, Department of Economics, Institute for Business and Economic Research, UC Berkeley. [Downloadable!]
  4. Grossman, G.M. & Lai, E., 2001. "International Protection of intellectual Property," Papers 215, Princeton, Woodrow Wilson School - Public and International Affairs.
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  5. Michele Boldrin & David K Levine, 2002. "The Case Against Intellectual Property," Levine's Working Paper Archive 618897000000000003, David K. Levine. [Downloadable!]
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  6. Nancy Gallini and Suzanne Scotchmer., 2001. "Intellectual Property: When Is It the Best Incentive System?," Economics Working Papers E01-303, University of California at Berkeley. [Downloadable!]
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  7. Michele Boldrin & David K. Levine, 2004. "IER Lawrence Klein Lecture: the case against intellectual monopoly," Staff Report 339, Federal Reserve Bank of Minneapolis. [Downloadable!]
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  8. Michele Boldrin & David K Levine, 2002. "Perfectly Competitive Innovation," Levine's Working Paper Archive 625018000000000192, David K. Levine. [Downloadable!]
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  9. Michele Boldrin & David K. Levine, 2005. "Intellectual property and market size," Staff Report 360, Federal Reserve Bank of Minneapolis. [Downloadable!]
  10. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October. [Downloadable!] (restricted)
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  11. DiMasi, Joseph A. & Hansen, Ronald W. & Grabowski, Henry G. & Lasagna, Louis, 1991. "Cost of innovation in the pharmaceutical industry," Journal of Health Economics, Elsevier, vol. 10(2), pages 107-142, July. [Downloadable!] (restricted)
  12. Richard Gilbert & Carl Shapiro, 1990. "Optimal Patent Length and Breadth," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 106-112, Spring. [Downloadable!] (restricted)
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  13. Scotchmer, Suzanne, 1991. "Standing on the Shoulders of Giants: Cumulative Research and the Patent Law," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 29-41, Winter. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michele Boldrin & David K Levine, 2005. "Intellectual Property and the Efficient Allocation of Surplus from Creation," Levine's Working Paper Archive 618897000000000925, David K. Levine. [Downloadable!]
  2. Michele Boldrin & David K Levine, 2008. "Market Structure and Property Rights in Open Source Industries," Levine's Working Paper Archive 122247000000002269, David K. Levine. [Downloadable!]
  3. Michele Boldrin & David K. Levine, 2005. "Intellectual property and market size," Staff Report 360, Federal Reserve Bank of Minneapolis. [Downloadable!]
  4. Raquel Fernandez & Alessandra Fogli, 2005. "Culture: an empirical investigation of beliefs, work, and fertility," Staff Report 361, Federal Reserve Bank of Minneapolis. [Downloadable!]
    Other versions:
  5. Michele Boldrin & David K. Levine, 2006. "Growth and Intellectual Property," NBER Working Papers 12769, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. Crampes, Claude & Langinier, Corinne, 2005. "Are Intellectual Property Rights Detrimental to Innovation?," Staff General Research Papers 12267, Iowa State University, Department of Economics. [Downloadable!]
  7. Michele Boldrin & David K Levine, 2008. "Market Size and Intellectual Property Protection," Levine's Working Paper Archive 618897000000001023, David K. Levine. [Downloadable!]
    Other versions:
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