communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the … transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the …

externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that … innovation output is higher in regions where large and small firms coexist. The finding is robust to across-region as well as …

Patents are a useful but imperfect reward for innovation. In sectors like pharmaceuticals, where monopoly distortions … lower prices. Innovation prizes and other non-patent rewards are becoming more prevalent in government's innovation policy … therefore can generate the right innovation incentives. …

We study how the market for innovation affects enforcement of patent rights. Conventional wisdom associates the gains … potential gains from trade are more likely to change ownership, suggesting that the market for innovation is efficient. We also …

Cumulative innovation is central to economic growth. Do patent rights facilitate or impede such follow-on innovation …. Patent rights appear to block follow-on innovation only in the technology fields of computers, electronics and medical … small innovators, suggesting that patents may impede the ‘democratization’ of innovation. …

downstream development unit, a buyer of the interim innovation, arise from its ability to prevent the upstream research unit from … the value of her innovation is low. By constraining the financial flexibility of the upstream unit vis-a-vis her choice …