Economic Welfare and the Allocation of Resources for Invention

Innovation and regulation in telecommunications industry: A comparative institutional economic analysis

“…For instance, following Arrow (1959), allowance of patents and other intellectual property rights repeals from maintaining effective competition, for a limited period of time and under specific terms and conditions, in order to efficiently remunerate specific investments that develop welfareimproving R&D activities and resources. In the same spirit, accountingbased regulatory control of excessive rentability and price-making frames and shapes the competitive pricing in order to assure the proper functioning of the industrial system for public interest purposes.…”

In Defense of Trusts: R&D Cooperation in Global Perspective

“…Note that the trajectory through (ĉ,û (1) ) goes to the left, and that through (ĉ,û (2) ) goes to the right. As Π ĉ,û (1) = Π ĉ,û (2) , it follows that |û (1) − 1| = |û (2) − 1|.…”

Access regulation and infrastructure investment in the mobile telecommunications industry

“…Arrow (1962) favored competition to foster innovations while Gilbert and Newbery (1982) suggested that a monopolist with the threat of entry from prospective competitors has more incentives to innovate preemptively. Tirole (1997) called these two forces "the replacement effect" and "the efficiency effect," respectively.…”