Prices versus Prizes: Patents, Public Policy, and the Market for Inventions

Spulber, Daniel F.

doi:10.2139/ssrn.2488095

Cited by 4 publications

(3 citation statements)

References 161 publications

(79 reference statements)

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“…This means that even entrepreneurs who are intrinsically motivated are substantially better off without taxes and subsidies. Consistent with the perspectives of Spulber () discussed above, government‐sponsored support for an existing technology leads to lock‐in, which creates steep switching costs for breakthrough alternatives, regardless of whether the innovation is generated by a financially motivated or intrinsically motivated entrepreneur.…”

Section: Discussionmentioning

confidence: 69%

“…However, subsidies that are designed to expedite mass scaling of incumbent technologies, dissociate inventions from the seller's true costs and the buyer's true willingness to pay. This, in turn, influences the economic decisions of innovators, producers, investors, and consumers (Hayek, ; Spulber, ) by rewarding scale over innovation. Given this, intergenerational fairness may best be served when policies spur innovation, rather than subsidize of scaling efforts.…”

Section: Discussionmentioning

confidence: 99%

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Intergenerational Fairness and the Crowding Out Effects of Well‐Intended Environmental Policies

Hunt

Fund

2016

J Management Studies

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Sustainability involves the drive to ensure intergenerational fairness. However, the results of actions taken to achieve sustainability often lie far into the future and efforts to promote the welfare of distant generations may or may not ultimately be successful. While both governmental policies and entrepreneurial innovation have been cited as being indispensable to the achievement of sustainability, the manner in which they co‐exist and interact over very long periods of time remains unclear. Using a computational model spanning more than two centuries, this study asks: Do well‐intended environmental policies facilitate or inhibit environmental entrepreneurship? By simultaneously considering both the ethical and economic consequences of efforts to arrest environmental degradation, our study answers the call to develop multi‐disciplinary perspectives and integrative frameworks when addressing the challenges of sustainable existence. Contrary to widely held perceptions, our findings suggest that policy actions may, in the long run, result in less intergenerational fairness by crowding out environmentally desirable innovations and organizations. Our examination of the long‐term interactions between policies and markets offers insights and opportunities for scholars, entrepreneurs, environmentalists, ethicists and policymakers to develop solutions that preserve and extend the essential contributions of both policy actions and entrepreneurial innovations.

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Section: Discussionmentioning

confidence: 69%

Section: Discussionmentioning

confidence: 99%

Intergenerational Fairness and the Crowding Out Effects of Well‐Intended Environmental Policies

Hunt

Fund

2016

J Management Studies

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“…Lo ideal es utilizar el mercado competitivo para asegurar una difusión eficaz del conocimiento; dando una licencia a un gran número de personas que utilizan la fuerza de la competencia para bajar el precio y aumentar el uso del conocimiento (Spulber, 2014).…”

Section: Sistema De Premiosunclassified