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Intellectual Property and the Markets of Ideas

The Review of Network Economics

Vol. 4, Issue 2 - June 2005, pp 161 - 180

  Giovanni B. Ramello
Department of Economics, UniversitÓ Carlo Cattaneo, LIUC
E-mail: [email protected]

  This article summarizes the law and economics theory of IPRs, while at the same time suggests hints for further research. The standard literature on IPRs generally relies on the thesis of the incentive to create new ideas. Although this argument remains valid in the general case, in several circumstances it fails to take into account various consequences arising from the dynamic effect of IPRs on the market structure. The main conclusion is that the economic evaluation of IP based on a more suitable representation of creative contexts might reveal a different balance of welfare and lead to different policy indications.

Keywords: intellectual property rights, IPRs, market structure, knowledge economy

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