Pollock, Rufus (2006): Innovation and Imitation with and without Intellectual Property Rights.
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An extensive empirical literature indicates that returns from innovation are appropriated primarily via mechanisms other than formal intellectual property rights -- and that `imitation' is itself a costly activity. However most theory assumes the pure nonrivalry of `ideas' with its implication that, in the absence of intellectual property, innovation (and welfare) is zero. This paper introduces a formal model of innovation based on imperfect competition in which imitation is costly and an innovator has a first-mover advantage. Without intellectual property, a significant amount of innovation still occurs and welfare may actually be higher than with intellectual property.
|Item Type:||MPRA Paper|
|Original Title:||Innovation and Imitation with and without Intellectual Property Rights|
|Keywords:||Innovation; Imperfect Competition; Intellectual Property; Imitation|
|Subjects:||L - Industrial Organization > L5 - Regulation and Industrial Policy
O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights
K - Law and Economics > K3 - Other Substantive Areas of Law
|Depositing User:||Rufus Pollock|
|Date Deposited:||24. Sep 2007|
|Last Modified:||23. Feb 2015 12:23|
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