Inventors and Pirates: Creative Activity and Intellectual Property Rights
AbstractThis paper analyzes how both the value of ideas created as well as the security of intellectual property rights result from the choices of potentially creative people either to engage in creative activity or to be pirates, and from decisions of people who are engaged in creative activity to allocate time and effort to the guarding of ideas from pirating. An important result is that, although the existence of a small number of geniuses causes a larger fraction of potentially creative people to choose to be pirates and, consequently, makes intellectual property rights less secure, the existence of a small number of geniuses, holding fixed the average level of talent, can result in a larger value of ideas being created. The paper also recognizes the difference between the private value and the social value of the security of intellectual property rights.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7898.
Date of creation: Sep 2000
Date of revision:
Publication status: published as Grossman, Herschel I. "Inventors And Pirates: Creative Activity And Intellectual Property Rights," European Journal of Political Economy, v21(2,Jun), 2005, 269-285.
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Other versions of this item:
- Grossman, Herschel I., 2005. "Inventors and pirates: creative activity and intellectual property rights," European Journal of Political Economy, Elsevier, vol. 21(2), pages 269-285, June.
- Herschel Grossman, 2000. "Inventors and Pirates:Creative Activity and Intellectual Property Rights," Working Papers 2000-14, Brown University, Department of Economics.
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
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