Abstract U.S. firms have reduced their investment in scientific research ("R") compared to product development ("D"), raising questions about the returns to each type of investment, and about the reasons for this shift. We use Census data that disaggregates "R" from "D" to study how US firms...

It is more than 25 years since the authors of the Yale and Carnegie surveys studied how firms seek to protect the rents from innovation. In this paper, we revisit that question using a nationally representative sample of firms over the period 2008-2015, with the goal of updating and extending a...

The 2006 Supreme Court ruling in eBay vs. MercExchange marked a sea change in U.S. patent policy. The eBay decision removed the presumption of injunctive relief. Subsequent legal and policy changes reduced the costs of challenging patent validity and narrowed the scope of patentable subject...