World Scientific
Skip main navigation

Cookies Notification

We use cookies on this site to enhance your user experience. By continuing to browse the site, you consent to the use of our cookies. Learn More
×

System Upgrade on Tue, May 28th, 2024 at 2am (EDT)

Existing users will be able to log into the site and access content. However, E-commerce and registration of new users may not be available for up to 12 hours.
For online purchase, please visit us again. Contact us at customercare@wspc.com for any enquiries.
No Access

Chapter 2: Patents versus Prizes

      https://doi.org/10.1142/9789811225666_0002Cited by:0 (Source: Crossref)
      Previous
      Next
      Abstract:

      The following sections are included:

      • Introduction

      • The Flawed Deadweight Welfare Loss Argument

        • Deadweight Welfare Losses and Inconsistent Assumptions

        • Deadweight Welfare Losses from Taxation

        • Deadweight Welfare Losses and Market Prices

        • What is the Marginal Cost of an Invention?: Transaction Costs versus Administrative Costs

        • Lump-Sum versus Per-Unit Running Royalties

      • Allocative Efficiency in Technology: Prizes versus Prices

        • Patents and Markets for Technology

        • Allocative Efficiency in the Market for Inventions

        • Marginal Cost Prices and Central Planning

        • Public Goods and Natural Monopoly

      • Patents and Incentives for Invention and Innovation

        • What is Competition?: Markets versus Tournaments

        • Providing Information: Prices versus Prizes

        • The Effects of Technological Change on Market Prices

        • Market Prices as Indicators of Technological Change

      • Conclusion