Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial … constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the … incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the …

This paper studies how patent rights and price regulation affect how fast new drugs are launched in different countries … duration and content of patent and price control regimes. Price regulation strongly delays launch, while longer and more … extensive patent protection accelerates it. Health policy institutions, and economic and demographic factors that make markets …

cumulative innovation. This paper studies the effects of strategic patenting on R&D, patenting and market value in the computer … evidence that both strategic patenting and R&D spillovers strongly affect innovation and market value of software firms. …Strategic patenting is widely believed to raise the costs of innovating, especially in industries characterised by …

pre-sample data on university patenting to control for the potential endogeneity of royalty shares. We find that …

We study how fragmentation of patent rights (‘patent thickets’) and the formation of the Court of Appeal for the … Federal Circuit (CAFC) affected the duration of patent disputes, and thus the speed of technology diffusion through licensing …. We develop a model of patent litigation which predicts faster settlement agreements when patent rights are fragmented and …

cumulative innovation. This paper studies the effects of strategic patenting on R&D, patenting and market value in the computer … evidence that both strategic patenting and R&D spillovers strongly affect innovation and market value of software firms. …Strategic patenting is widely believed to raise the costs of innovating, especially in industries characterised by …

outlays. When there are no spillovers, or there is full patent protection, underinvestment equilibria are shown to exist even … though, by deviating, a firm can get a persistent strategic advantage. When there are strong spillovers and weak patent … protection, underinvestment equilibria fail to exist. This implies that weaker patent protection can actually lead to more …