The Chicago Intellectual Property Rights Tradition and the Reconciliation of Coase and Hayek
The paper traces a fairly continuous line of argument about the institutional mechanisms by which intellectual property is produced and maintained in an advanced, commercial society. What the author calls the Chicago intellectual property rights tradition offers a rich and suggestive interpretation of market institutions as alternatives to direct government tax and subsidy schemes. According to Hayek, the pricing system quickly utilizes information that is already in existence. But the speedy diffusion of all commercially valuable information would discourage its production. In my view, a Coasean world dominated by firms that have been established to economize on certain costs associated with the use of the price system can also be a world able to account for investments in the production and maintenance of intellectual property. In this way he offers a reconciliation of Hayek and Coase.
Volume (Year): 17 (1991)
Issue (Month): 2 (Apr-Jun)
|Contact details of provider:|| Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA|
Phone: (201) 684-7346
Web page: https://www.quinnipiac.edu/eea/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:eej:eeconj:v:17:y:1991:i:2:p:145-156. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson, College of the Holy Cross)
If references are entirely missing, you can add them using this form.