This introduction sets in context the works that follow, which are meant to take stock of the theoretical advances and also historical changes since the seminal Arrow (1962) and Nelson (1959). First, we summarize some of the original Arrow-Nelson insights. Second, we map the subsequent...

Do different pharmaceutical product liability regimes in different countries induce innovation or can they lead to potentially socially undesirable outcomes? We exploit the variation in pharmaceutical liability and litigation rules across firms in pharmaceutical industry and countries to explain...

We examine the diversification of administrative and procedural costs on patent stock using a large dataset from the European Patent Office with 15,000 firms for the period between 1995 and 2015. The results reveal that administrative and procedural costs are significant for firm-level patenting...

The process of innovation usually differs from one industry to another, according to level of expected rents, the uncertainty over the return of investments and competition dynamics. The diversity of industries is largely reflected not only in their rate of innovation and growth, but also in the...

The legal monopoly granted by the patent system has often been criticized for its inefficiency, which is exacerbated by the peculiarities of knowledge as a public good. In this paper we aim at studying more deeply the latter concern. Hence we build a model in which monopolistic exploitation does...