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On The Optimality of The Patent Renewal System
Oleh:
Scotchmer, Suzanne
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Rand Journal of Economics vol. 30 no. 2 (1999)
,
page 181-196.
Topik:
PATENTS
;
optimality
;
patent renewal system
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
RR10.3
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The patent system is mainly a renewal system : the patent life is chosen by the patentee in return for fees. I ask whether such a system can be justified by asymmetric information on costs and benefits of research. In such a model I show that renewal mechanisms (possibly with subsidies) are equivalent to direct revelation mechanisms and therefore cannot be improved on, regardless of the objective function. Under plausible circumstances, patents should have a uniform life, rather than varying in length, as typically occurs under a renewal system.
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