Intro history patents ip innovation why do private rms

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Unformatted text preview: 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 A ll rights reserved. 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 A ll rights reserved. Intro History Patents IP An excursion through history Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP The Ancients Invention in pre-historic societies was unplanned. Societies were technologically conservative. e.g. tools, pots remained unchanged for centuries First known inventor: Imhotep; built the …rst pyramid lived in Egypt (about 2650 BC) was a ‘ government employee’ The direct government procurement model of Cheops was established. Later p...
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