We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the … patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation … that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation …

We investigate the causal effect of patent rights on cumulative innovation, using large-scale data that approximate the … patent universe in its technological and economic variety. We introduce a novel instrumental variable for patent invalidation … that exploits personnel scarcity in post-grant opposition at the European Patent Office. We find that patent invalidation …

This paper analyzes how injunctions relate to patent hold-up problems. To this end, we present a simple model of … licensing negotiations between a patent holder and a downstream firm in the shadow of litigation. More specifically, we consider … the situation in which an injunction is granted as a matter of course if a patent is found valid and infringed upon in …

This paper analyzes the optimal protection strategy for an innovator of a complex innovation who faces the risk of … imitation by a competitor. We suppose that the innovation can be continuously fragmented into sub-innovations. We characterize … the optimal mix of patent and trade secrets when the innovator faces a strict novelty requirement and can only patent a …

of the receiving country. We test the empirical implications of our model using patent data in renewable and fossil … Moment estimator. We show that knowledge transfer through patent duplication increases with the level of IPR protection, but … more sensitive to uncertainty. Commitment to EPs also increases the incentives for patent duplication. The magnitude of the …

Incentivizing innovation through buyouts may alleviate the social costs associated with patent power, but the political … setting of countries with different innovation and financing capabilities, and where financing governments rely on taxes to …

The literature on patent buyouts has focused on single-economy settings, where buyouts are welfare improving relative … world with two heterogeneous countries featuring different sizes and innovation capacities. Moving to an international … system of global patent protection paired with domestic price subsidies, and only intersovereign transfers can achieve a …

This paper provides a first comprehensive quantitative analysis of optimal patent policy in the global economy. We … introduce a new framework, which combines trade and growth theory into a tractable tool for quantitative research. Our … application delivers three main results. First, the potential gains from international cooperation over patent policies are large …

We construct a tractable general equilibrium model of cumulative innovation and growth, in which new ideas strictly … lower than the social plannerś benchmark, which suggests a role for patent policy. We focus on a "non-infringing inventive … the rate of innovation, as well as a separate optimal required inventive step that maximizes welfare, with the former …