Knowledge, Economic Organization, and Property Rights

Organizing Economic Experiments: Property Rights and Firm Organization∗

Many economists, notably Austrian economists, have argued that the market process is essentially an experimental process. We briefly try to clarify this conceptualization, and then argue that we may understand the firm in much the same light. A basic view of the firm as an experimental entity is derived, drawing on property rights insights.

Property Rights and Economic Development

This chapter develops a unified analytical framework, drawing on and extending the existing literature on the subject, for studying the role of property rights in economic development. It addresses two fundamental and related questions concerning the relationship between property rights and economic activity. (i) What are the mechanisms through which property rights affect economic activity? (i...

Intellectual Property Rights and Economic Development

Intellectual Property Rights and Economic Growth

I study the role of intellectual property rights (IPRs) in a model of endogenous growth with sequential innovation. The model mimics the innovation process in hi-tech sectors where many of the techniques and products used in R&D are recent discoveries themselves. Depending on the structure of the patent system, some of these discoveries might still be protected by a patent. In this context IPRs...

Knowledge spillovers and intellectual property rights

a r t i c l e i n f o JEL classifications: L26 O14 O16 O31 O33 O34 Keywords: Knowledge spillovers R&D intensity Entrepreneurship Intellectual property rights Copyright Legal formalism Knowledge spillovers are widely thought to be important for innovative activity, yet theory is ambiguous about the sign of the relationship. Assuming that knowledge spillovers are more easily exploited where intel...