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Buy, keep or sell : economic growth and the market for ideas

Author: Ufuk Akcigit; Murat Alp Çelik; Jeremy Greenwood; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2013.
Series: Working paper series (National Bureau of Economic Research), no. 19763.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an idea that is not relevant to its business or buy one if it fails to innovate. The developed model is matched up with  Read more...
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Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Ufuk Akcigit; Murat Alp Çelik; Jeremy Greenwood; National Bureau of Economic Research.
OCLC Number: 868058166
Notes: Title from http://www.nber.org/papers/19763 viewed January 14, 2014.
"December 2013."
Description: 1 online resource (49 pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 19763.
Responsibility: Ufuk Akcigit, Murat Alp Celik, Jeremy Greenwood.

Abstract:

An endogenous growth model is developed where each period firms invest in researching and developing new ideas. An idea increases a firm's productivity. By how much depends on how central the idea is to a firm's activity. Ideas can be bought and sold on a market for patents. A firm can sell an idea that is not relevant to its business or buy one if it fails to innovate. The developed model is matched up with stylized facts about the market for patents in the U.S. The analysis attempts to gauge how efficiency in the patent market affects growth.

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