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Buy, Keep or Sell: Economic Growth and the Market for Ideas / Ufuk Akcigit, Murat Alp Celik, Jeremy Greenwood.
- Format:
- Book
- Author/Creator:
- Akcigit, Ufuk.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w19763.
- NBER working paper series no. w19763
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Buy, Keep or Sell
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- 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 stylized facts about the market for patents in the U.S. The analysis attempts to gauge how efficiency in the patent market affects growth.
- Notes:
- Print version record
- December 2013.
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