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Econ 483_Lecture 2_Institutions - Intro History Patents IP...

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Intro History Patents IP Lecture 2 Institutions; an excursion through history Econ 483: Economics of Innovation & Technology Evangelia Chalioti University of Illinois at Urbana-Champaign January 16, 2013 Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Outline of lecture Innovation An excursion through history Inventors°reward systems Growth of government funding Intellectual property protection Patents Basic requirements Patent characteristics Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Innovation Innovation requires: an idea of how to do or make something, usually by an individual - the ±rst occurrence of an idea of a new product or process putting this idea into practice; commercialization of the idea - the will ; incentive system is needed - the means ; resources, private or public, must be available Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Supply of an innovation Supply of an innovation depends on: technological opportunity - state of the scienti±c & technological knowledge skilled workers, appropriate equipment - cost & availability of inputs to innovation appropriability - ability to capture the pro±t from innovation Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Demand of an innovation process-improving innovation - amount of cost reduction from that innovation product innovation - consumer or producer bene±t from something new incremental product innovation - consumer or producer bene±t from improvement in an existing good Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Innovation The resources, private or public, are concentrated mainly by taxation appropriating the bene±ts of R&D results private wealth from saving or investing Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Innovation Why do private ±rms innovate? - i.e. to secure a market advantage Why does the federal government innovate? - i.e. to enhance welfare; to improve e¢ ciency in production Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP Why did it take so long for some innovations to be invented? ! Societies had to invent institutions before innovations. Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved. ,. ,. ,.
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Intro History Patents IP An excursion through history Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c ° All rights reserved.
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