Posted by Social Science Research Network
Intellectual Property Incentives: Economics and Policy Implications Stephen M. Maurer (University of California)
Abstract: Classical proofs for the efficiency of markets do not extend to information goods. Economists have worked since the 1960s to construct sophisticated microeconomic framework for analyzing when intellectual property (“IP”) rights benefit to society. This chapter reviews IP theory’s main findings and asks how well they have been implemented in US law. Section III begins by reviewing how IP mediates the benefits of faster innovation against the burden of monopoly. It then shows why IP is generally less efficient when multiple firms compete and how shrewd reforms could improve the tradeoff. Finally, it explores extended models in which ideas for R&D investments are scarce so that IP incentives must coordinate contributions by firms that may not know of each others’ existence. Section III asks how well legislators and judges have incorporated these insights into everyday patent, antitrust, and copyright law. Section IV presents a brief conclusion.
Featured News
FTC Pushes Review of CoStar’s Commercial Real Estate Antitrust Case
Jan 31, 2024 by
CPI
UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger
Jan 31, 2024 by
CPI
Greenberg Traurig Grow Financial Regulatory and Compliance Practice
Jan 31, 2024 by
CPI
Dutch Regulator Fines Uber €10 Million for Privacy Violations
Jan 31, 2024 by
CPI
DOJ Investigates AI Competition, Eyes Microsoft’s OpenAI Deal: Bloomberg
Jan 31, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – The Rule(s) of Reason
Jan 29, 2024 by
CPI
Evolving the Rule of Reason for Legacy Business Conduct
Jan 29, 2024 by
CPI
The Object Identity
Jan 29, 2024 by
CPI
In Praise of Rules-Based Antitrust
Jan 29, 2024 by
CPI
The Future of State AG Antitrust Enforcement and Federal-State Cooperation
Jan 29, 2024 by
CPI