The Economics of Innovation and Intellectual Property

This textbook introduces readers to the economics of innovation, covering innovation basics, the measurement of returns to innovation for individuals and the economy, and the use of intellectual property protection by innovators. The book focuses on the various ways patents have been used by industry to secure returns to innovation, as well as the strategic use of patents, and it emphasizes present-day technologies, such as pharmaceuticals and AI. Clearly organized and highly readable, the text offers a useful introduction to economics, business, public policy, and legal studies, and provides a comprehensive collection of references and information from a variety of sources across disciplines.