in industries where technological and organizational innovation is important. Indeed a large literature has grown up on … ways they evolve over time. Another domain concerns the nature of competition in such industries, wherein innovation and … briefly flag some fundamental aspects of economic growth and development as an innovation-driven evolutionary process. …

example in which more rational agents systematically perform worse than less rational ones. -- Innovation ; Endogenous Growth …

differentiation and component innovation. We show that, as the complexity of the product spaces increases, stronger patent regimes … yield lower rates of innovation, lower product quality and lower consumers' welfare. -- Patents ; appropriability of … innovation ; complex product industries ; industrial dynamics …

an innovation rewarding institution. According to our analysis, pharma patents have constituted legal barriers to protect …

different configurations of the patent system upon innovation and competition. The model is able to replicate the main stylized … adverse effects in terms of innovation outcomes, as well as of market competition and consumer welfare. Such general …