A Generalized Quality-Ladder Growth Model with Overlapping Intellectual Property Rights: Quantifying the Effects of Blocking Patents on RandD Reportar como inadecuado




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Abstract

What are the effects of blocking patents on RandD and consumption? This paper develops an RandD-driven endogenous growth model with overlapping intellectual property rights to quantify the inefficiency in the patent system. The analysis focuses on two policy variables: a patent breadth that determines the total profit received by a patent pool; and b the profit-sharing rule that determines the distribution of surplus between innovators. To quantify the inefficiency arising from blocking patents that are generated by these two policy variables, the model is calibrated to aggregate data of the US economy. Under parameter values that match key features of the US economy and show equilibrium RandD underinvestment, I find that eliminating blocking patents would lead to a conservatively estimated increase in RandD of 12% and long-run consumption of 4% per year. This paper also quantifies the transition-dynamic effects of patent policy and shows implications that are different from previous studies in important ways.



Item Type: MPRA Paper -

Institution: University of Michigan-

Original Title: A Generalized Quality-Ladder Growth Model with Overlapping Intellectual Property Rights: Quantifying the Effects of Blocking Patents on RandD-

Language: English-

Keywords: blocking patents; endogenous growth; patent breadth; patent pools; RandD-

Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O34 - Intellectual Property and Intellectual CapitalO - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O31 - Innovation and Invention: Processes and Incentives-





Autor: Chu, Angus C.

Fuente: https://mpra.ub.uni-muenchen.de/5546/







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