Bucci, Alberto; Saglam, H.C. - Institut de Recherche Économique et Sociale (IRES), … - 2000
Using a vertical differentiation model of endogenous growth with stochastic R&D activity, we characterize the optimal patent life-time the government would set in order to maximize economic growth. We show that a finite patent life-time does exist and is unique provided that the expected rate of...