Econ 483_Lecture 2_Institutions

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Unformatted text preview: edly. There were not recordings & dissemination of knowledge. - Discoveries were kept secret & sometimes died There were not reward for disclosure; no adoption or di¤usion, slow progress Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP Institutions Dark ages New Institutions: Prior to 1100, church monasteries, cathedral schools, libraries became centers of learning Guilds (cartel-like institution) strict laws against revealing their secrets to outsiders They obtain market power & capture the bene…ts from innovation. Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights reserved. Intro History Patents IP Institutions Universities (invented around 1200) research in medicine, natural science etc Improvements are achieved in a systematic way. By 1450, 80 Universities in Europe novel ideas, experiments, new machines etc Age of monarchies: Monarchs became patrons Lecture 2: Institutions, Econ483: Econ of Innovation & Technology, Evangelia Chalioti c A ll rights...
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This note was uploaded on 03/16/2014 for the course ECON 483 taught by Professor Staff during the Spring '08 term at University of Illinois, Urbana Champaign.

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