Although patent systems have been widely used both historically and internationally, there is nonetheless a tremendous … amount of controversy over whether patent systems, in practice, improve the alignment between private returns and social … contributions. In this article, I describe three parameters—how the disclosure function affects research investments, how patent …

While patent systems have been widely used both historically and internationally, there is nonetheless a tremendous … amount of controversy over whether patent systems - in practice - improve the alignment between private returns and social … contributions. In this paper, I describe three parameters - how the disclosure function affects research investments, how patent …

challenger invests more into R&D in order to enter a new market than the incumbent. Thus, the patent racing model by Reinganum …