Week 8 Notes
Week 8 Notes PAM 2000
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This 1 page Class Notes was uploaded by Eunice on Saturday March 19, 2016. The Class Notes belongs to PAM 2000 at Cornell University taught by McDermott, E in Fall 2015. Since its upload, it has received 30 views. For similar materials see Intermediate Microeconomics in Political Science at Cornell University.
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Date Created: 03/19/16
PAM 2000 McDermott Spring 2016 March 15, 2016 economics of patent Law o in favor of: incentivizes innovation o opposition: creates monopolies inefficient market o Stackelberg model and first mover advantage o alternative shorter patent life government projects (drug research) government grants/subsidies o pharmaceutical industry expensive to generate new drugs patent: get a monopoly for 20 years o cases A: with patent, unrestricted B: no patent C: with patent but with price regulation March 17, 2016: Prelim 1