The economics of ideas and intellectual property

Description

"Innovation and the adoption of new ideas are fundamental to economic progress. Here we examine the underlying economics of the market for ideas.From a positive perspective, we examine how such markets function with and without government intervention.From a normative perspective, we examine the pitfalls of existing institutions, and how they might be improved.We highlight recent research by ourselves and others challenging the notion that government awards of monopoly through patents and copyright are "the way" to provide appropriate incentives for innovation"--Federal Reserve Bank of Minneapolis web site.

Subjects

Series Statement

• Federal Reserve Bank of Minneapolis, Research Department staff report ;
• 357
• Staff report (Federal Reserve Bank of Minneapolis. Research Dept. : Online) ;

Links

• http://woodrow.mpls.frb.fed.us/research/sr/sr357.html
• URL