Moschini, GianCarlo - Center for Agricultural and Rural Development (CARD), … - 2003
) deal with new knowledge, as embod-
ied in an innovative product or process, and (b) confer (limited) exclusive (i ….e.,
monopoly) rights to the inventor. New knowledge that makes possible the production of
new products and/or processes is … knowledge is a quintessen-
tial “public good” (Arrow 1962). Pure public goods have two distinguishing attributes.
First, they …