Citation

Discussion Paper Details

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Title: Matching Demand and Supply in a Weightless Economy: Market-Driven Creativity With and Without IPRs

Author(s): Danny Quah

Publication Date: April 2002

Keyword(s): cultural good, finitely expansible, innovation, intellectual asset, intellectual property, internet, IP valuation, IPR, knowledge product, MP3, non-rival and software

Programme Area(s): International Macroeconomics

Abstract: Many cultural products have the same non-rival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic ? societies tolerate monopolistic inefficiency in intellectual property (IP) protection to incentivize the creation and distribution of intellectual assets. This Paper examines that trade-off in dynamic, representative agent general equilibrium, and characterizes socially efficient creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3317

Bibliographic Reference

Quah, D. 2002. 'Matching Demand and Supply in a Weightless Economy: Market-Driven Creativity With and Without IPRs'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=3317