Citation

Discussion Paper Details

Please find the details for DP3274 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: Perfectly Competitive Innovation

Author(s): Michele Boldrin and David Levine

Publication Date: March 2002

Keyword(s): endogenous technological change, innovation and monopoly power

Programme Area(s): International Macroeconomics

Abstract: We construct a competitive model of innovation and growth under constant returns to scale. Previous models of growth under constant returns cannot model technological innovation. Current models of endogenous innovation rely on the interplay between increasing returns and monopolistic markets. In fact, established wisdom claims monopoly power to be instrumental for innovation and sees the non-rivalrous nature of ideas as a natural conduit to increasing returns. The results here challenge the positive description of previous models and the normative conclusion that monopoly through copyright and patent is socially beneficial.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3274

Bibliographic Reference

Boldrin, M and Levine, D. 2002. 'Perfectly Competitive Innovation'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3274