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Clearings and Thickets


  • Cooter, Robert

    () (University of California at Berkeley)

  • Edlin, Aaron

    (University of California at Berkeley)


Intellectual property law, which includes patents and copyright law, establishes the ownership of innovations by people. It conveys a bundle of rights to creators as determined by rules. Applied to intellectual property law, the normative question of growth economics is, “Which ownership rules maximize innovation?” In order to increase the pace of innovation, ownership rules should increase venture profits. So the question of this essay is, “Which ownership rules maximize venture profits?".

Suggested Citation

  • Cooter, Robert & Edlin, Aaron, 2011. "Clearings and Thickets," Ratio Working Papers 168, The Ratio Institute.
  • Handle: RePEc:hhs:ratioi:0168

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    References listed on IDEAS

    1. André Stel & David Storey & A. Thurik, 2007. "The Effect of Business Regulations on Nascent and Young Business Entrepreneurship," Small Business Economics, Springer, vol. 28(2), pages 171-186, March.
    2. C. Praag & Peter Versloot, 2007. "What is the value of entrepreneurship? A review of recent research," Small Business Economics, Springer, vol. 29(4), pages 351-382, December.
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    Cited by:

    1. Voigt, Stefan & Gutmann, Jerg, 2013. "Turning cheap talk into economic growth: On the relationship between property rights and judicial independence," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 66-73.

    More about this item


    Institutions; property rights; intellectual property rights; law and economics;

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • K11 - Law and Economics - - Basic Areas of Law - - - Property Law
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives


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