Patent Markets in the Global Knowledge Economy: Theory, Empirics and Public Policy Implications

The development of patent markets should allow for better circulation of knowledge and more efficient allocation of technologies at a global level. However, the beneficial role of patents has recently come under scrutiny by those favouring 'open' innovation, and important questions have been asked, namely: How can we estimate the value of patents? How do we ensure matching between supply and demand for such specific goods? Can these markets be competitive? Can we create a financial market for intellectual property rights? In this edited book, a team of authors addresses these key questions to bring readers up to date with current debates about the role of patents in a global economy. They draw on recent developments in economic analysis but also ground the discussion with the basics of patent and knowledge economics. Striking a balance between institutional analysis, theory and empirical evidence, the book will appeal to a broad readership of academics, students and practitioners.

About the Editors

Thierry Madiès is Professor of Economics at the University of Fribourg, Switzerland. He previously served as an economic advisor on the Council of Economic Analysis to the French Prime Minister. Professor Madiès' field of research is at the crossroads between public economics and public policy, regional economics and the economics of innovation.

Dominique Guellec is Head of the Country Studies and Outlook Division and Directorate for Science, Technology and Industry at the Organisation for Economic Co-operation and Development (OECD). He formerly held the post of Chief Economist at the European Patent Office (EPO) (2004-2005).

Jean-Claude Prager is the Chief Economist of the Greater Paris Corporation (a state owned company in charge of the Great Paris metropolitan area project). Prior to this, he was Director of the French Agency for the Diffusion of Technological Information (ADIT).