Journal
APPLIED ECONOMIC PERSPECTIVES AND POLICY
Volume 35, Issue 2, Pages 206-241Publisher
WILEY
DOI: 10.1093/aepp/ppt012
Keywords
Competitive grants; Growth; Incentives; Innovation prizes; Intellectual property; Monopoly; Patents; Public goods; Research contracts; Research and development; Science policy; Tournaments; O31; O34; O38
Categories
Funding
- USDA National Needs Fellowship grant
- USDA Policy Research Center grant
- endowment of the Pioneer Chair in Science and Technology Policy
Ask authors/readers for more resources
Innovation is essential for sustaining growth and economic development in a world that faces population increase, natural resource depletion, and environmental challenges. Incentives play a critical role in innovation because the required research and development activities are costly, and the resulting knowledge has the attributes of a public good. This paper discusses the economics of institutions and policies meant to provide incentives for research and innovation, and focuses on intellectual property rights, specifically patents, contracted research (for example grants), and innovation prizes. The main economic implications of these institutions are discussed, with particular attention paid to open questions and recent contributions.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available