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10.1257/aer.p20161091

http://scihub22266oqcxt.onion/10.1257/aer.p20161091
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suck abstract from ncbi


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pmid27239058
      Am+Econ+Rev 2016 ; 106 (5 ): 183-187
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  • PATENTS AND RESEARCH INVESTMENTS: ASSESSING THE EMPIRICAL EVIDENCE #MMPMID27239058
  • Budish E ; Roin BN ; Williams HL
  • Am Econ Rev 2016[May]; 106 (5 ): 183-187 PMID27239058 show ga
  • A well-developed theoretical literature - dating back at least to Nordhaus (1969) - has analyzed optimal patent policy design. We re-present the core trade-off of the Nordhaus model and highlight an empirical question which emerges from the Nordhaus framework as a key input into optimal patent policy design: namely, what is the elasticity of R&D investment with respect to the patent term? We then review the - surprisingly small - body of empirical evidence that has been developed on this question over the nearly half century since the publication of Nordhaus's book.
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