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The B.E. Journal of Economic Analysis & Policy

Editor-in-Chief: Jürges, Hendrik / Ludwig, Sandra

Ed. by Auriol , Emmanuelle / Brunner, Johann / Fleck, Robert / Mendola, Mariapia / Requate, Till / Schirle, Tammy / de Vries, Frans / Zulehner, Christine

4 Issues per year


IMPACT FACTOR 2016: 0.252
5-year IMPACT FACTOR: 0.755

CiteScore 2016: 0.48

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Source Normalized Impact per Paper (SNIP) 2016: 0.526

Online
ISSN
1935-1682
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Volume 11, Issue 1 (Aug 2011)

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Volume 6 (2006)

Volume 4 (2004)

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Volume 1 (2001)

Anticommons and Optimal Patent Policy in a Model of Sequential Innovation

Gastón Llanes / Stefano Trento
Published Online: 2011-08-08 | DOI: https://doi.org/10.2202/1935-1682.2863

Abstract

We present a model of sequential innovation in which innovators use several research inputs to invent new goods. We extend work by Shapiro (2001) and Lerner and Tirole (2004) by studying the effects of increases in the number of patented research inputs on innovation incentives and optimal patent policy. We consider not only the effects on the incentives to invent final goods, but also on the incentives to invent research inputs (ex-ante effect). We find increasing complexity has a negative effect on innovation activity in the final goods sector when research inputs are complements. Either limiting market power through weaker patents or reducing the lack of coordination through patent pools may solve this problem. We also find the optimal patent breadth and show it is increasing in the elasticity of substitution between the inputs used in research and decreasing (increasing) in the complexity of the R&D process when research inputs are complements (substitutes).

Keywords: anticommons; sequential innovation; patent policy; intellectual property rights; complementary monopoly; patent pools; returns to specialization

About the article

Published Online: 2011-08-08


Citation Information: The B.E. Journal of Economic Analysis & Policy, ISSN (Online) 1935-1682, DOI: https://doi.org/10.2202/1935-1682.2863.

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©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston. Copyright Clearance Center

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