Using our own data on Artificial Intelligence publications merged with Burning Glass vacancy data for 2007-2019, we investigate whether online vacancies for jobs requiring AI skills grow more slowly in U.S. locations farther from pre-2007 AI innovation hotspots. We find that a commuting zone...

How could such industries as software, semiconductors, and computers have been so innovative despite historically weak patent protection? We argue that if innovation is both sequential and complementary--as it certainly has been in those industries--competition can increase firms' future profits...

When innovation is cumulative, early patentees can hold up later innovators. Under complete information, licensing before R&D avoids holdup. But when development costs are private information, ex ante licensing may only occur in regimes with sub-optimal patent policy

Cover -- Half Title -- Title -- Copyright -- Dedication -- Contents -- Preface -- Acknowledgments -- 1 Introduction -- 2 Disruption Lost -- 3 The Superstar Economy -- 4 From Open to Closed Capitalism -- 5 The Automation Paradox -- 6 The Productivity Gap -- 7 Divided Society -- 8 Regulating...