Patents and R&D: a Classroom Experiment
Public policy towards patents has assumed a robust positive relationship between the strength of patent protection and the level of innovative research effort even though economic theory and empirical evidence suggest that the impact of patents on research varies considerably by industry. This classroom experiment provides students with an introduction to two competing models of the impact of patents on R&D: the 'winner-take-all' model contains incentives for excessive research effort and the research effort and the 'knowledge spillover' model contains incentives for free riding. Class discussion explores potential changes to current patent policy and policy alternatives for stimulating R&D.
Volume (Year): 9 (2010)
Issue (Month): 2 ()
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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.:
- Rebecca Henderson & Iain Cockburn, .
"Scale, Scope and Spillovers: The Determinants of Research Productivity in Drug Discovery,"
ec25/94, Department of Economics, University of Lancaster.
- Rebecca Henderson & Iain Cockburn, 1996. "Scale, Scope, and Spillovers: The Determinants of Research Productivity in Drug Discovery," RAND Journal of Economics, The RAND Corporation, vol. 27(1), pages 32-59, Spring.
- Kremer, Michael R., 1998. "Patent Buyouts: A Mechanism for Encouraging Innovation," Scholarly Articles 3693705, Harvard University Department of Economics.
- Nancy T. Gallini, 1992. "Patent Policy and Costly Imitation," RAND Journal of Economics, The RAND Corporation, vol. 23(1), pages 52-63, Spring.
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