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The economics of ideas and intellectual property

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Author Info

  • Michele Boldrin
  • David K. Levine

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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Bibliographic Info

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

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

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Keywords: Technological innovations ; Intellectual property;

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References

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  1. Gene M. Grossman & Edwin L.-C. Lai, 2004. "International Protection of Intellectual Property," American Economic Review, American Economic Association, vol. 94(5), pages 1635-1653, December.
  2. Nancy Gallini & Suzanne Scotchmer, 2003. "Intellectual Property: When is it the Best Incentive System?," Levine's Working Paper Archive 618897000000000532, David K. Levine.
  3. Michele Boldrin & David K Levine, 2002. "The Case Against Intellectual Property," Levine's Working Paper Archive 618897000000000003, David K. Levine.
  4. Boldrin, Michele & Levine, David K., 2008. "Perfectly competitive innovation," Journal of Monetary Economics, Elsevier, vol. 55(3), pages 435-453, April.
  5. Michele Boldrin & David K. Levine, 2005. "Intellectual property and market size," Staff Report 360, Federal Reserve Bank of Minneapolis.
  6. Michele Boldrin & David K Levine, 2003. "IER Lawrence Klein Lecture: The Case Against Intellectual Monopoly," Levine's Working Paper Archive 618897000000000493, David K. Levine.
  7. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
  8. 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.
  9. Michele Boldrin & David K Levine, 2003. "Rent Seeking and Innovation," Levine's Working Paper Archive 618897000000000465, David K. Levine.
  10. Gilbert, R. & Shapiro, C., 1988. "Optimal Patent Length And Breadth," Papers 28, Princeton, Woodrow Wilson School - Discussion Paper.
  11. Suzanne Scotchmer, 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.
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Citations

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Cited by:
  1. Bramoullé, Yann & Saint-Paul, Gilles, 2010. "Research cycles," Journal of Economic Theory, Elsevier, vol. 145(5), pages 1890-1920, September.
  2. Raquel Fernandez & Alessandra Fogli, 2005. "Culture: An Empirical Investigation of Beliefs, Work, and Fertility," NBER Working Papers 11268, National Bureau of Economic Research, Inc.
  3. Claude Crampes & Corinne Langinier, 2009. "Are Intellectual Property Rights Detrimental to Innovation?," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 16(3), pages 249-268.
  4. Michele Boldrin & David K. Levine, 2009. "Market Size And Intellectual Property Protection," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(3), pages 855-881, 08.
  5. Michele Boldrin & David K Levine, 2008. "Market Structure and Property Rights in Open Source Industries," Levine's Working Paper Archive 122247000000002269, David K. Levine.
  6. Jalles, João Tovar, 2010. "How to measure innovation? New evidence of the technology-growth linkage," Research in Economics, Elsevier, vol. 64(2), pages 81-96, June.
  7. Michele Boldrin & David K. Levine, 2009. "Does Intellectual Monopoly Help Innovation?," Review of Law & Economics, De Gruyter, vol. 5(3), pages 2.
  8. Michele Boldrin & David K. Levine, 2005. "Intellectual property and market size," Staff Report 360, Federal Reserve Bank of Minneapolis.
  9. Grossmann, Volker, 2009. "Entrepreneurial innovation and economic growth," Journal of Macroeconomics, Elsevier, vol. 31(4), pages 602-613, December.
  10. 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.
  11. Michele Boldrin & David K. Levine, 2006. "Growth and Intellectual Property," NBER Working Papers 12769, National Bureau of Economic Research, Inc.

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