Investigations in the Study of Innovation and Firm Dynamics: Computational Simulations, Declining Entrepreneurship, and Natural Language Processing
Date
2015
Authors
Goldschlag, Nathan
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Abstract
The first chapter describes an alternative methodology in understanding the impacts of intellectual property rights on the innovation process. A computational simulation model is developed that structurally incorporates a variety of important empirical aspects of patents and technology as well as the role patents play in both incentivizing and stifling innovative activity. Simulation tests are then used to examine the conditions under which patents improve or suppress technological improvement. The results suggest that patents improve innovative outcomes when the technology space is complex and firms have limited monopoly power. Conversely, in the presence of first mover advantages and learning curves, and when innovations require relatively little investment, patents can deter innovation by reducing collaboration and forcing firms to invent around.
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Keywords
Economics, Intellectual property, Diffusion, Entrepreneurship, Firm Dynamics, Innovation, Patents, Technology