We exploit a change in eligibility rules for the Canadian Scientific Research and Experimental Development (SRED) tax credit to gain insight on how tax credits impact small-firm R&D expenditures. After [...]
Patent-assertion entities, sometimes known as `patent trolls,' do not manufacture goods themselves but profit from licensing agreements that they often enforce via the threat of litigation. This paper explores empirically [...]
Research shows that patent trolls cost defendant firms $29 billion per year in direct out-of-pocket costs; in aggregate, patent litigation destroys over $60 billion in firm wealth each year. While [...]
With roughly 400,000 software patents in force today it has become virtually impossible, as a practical matter, for entrepreneurs and engineers to avoid stepping on some purported inventor’s toes, no [...]
I will suggest that existing IP regimes can be understood as not merely reflecting high levels of inequality within and between nations, but also amplifying these trends. First, there is [...]
We investigate whether private research investments are distorted away from long-term projects. Our theoretical model highlights two potential sources of this distortion: short-termism and the fixed patent term. Our empirical [...]
Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital [...]
Streaming music services have exploded in popularity in the past few years, variously raising optimism and concern about their impacts on recorded music revenue. On the one hand, streaming services [...]
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 [...]
This paper studies how patent rights and price regulation affect how fast new drugs are launched in different countries, using newly constructed data on launches of 642 new drugs in [...]