Definition 1 (Knowledge). The term 'knowledge' is here used broadly to signify all forms of information production including those involved in technological innovation, cultural creativity and academic advance.
The rapid growth of online search and its centrality to the ecology of the Internet raise many questions for economists to answer: Why is the search engine market so concentrated and will it evolve towards monopoly? What implications does this concentration have for consumers, search engines, and advertisers? Does search require regulation and if so in what… (More)
Following his graduation from Cambridge University with a first in Mathematics, Rufus Pollock worked for a period in software before returning to Cambridge to pursue a PhD in Economics, focusing on innovation and intellectual property policy. In addition to his academic work he is Director of the Open Knowledge Foundation and a country coordinator for the… (More)
With cumulative innovation and imperfect information about the value of innovations, intellectual property rights can result in holdup and therefore it may be better not to have them. Extending the basic cumulative innovation model to include 'sampling' by second-stage firms, we find that the lower the cost of sampling, or the larger the differential… (More)
A selective review of the existing theoretical literature related to the economics of knowledge with special attention to intellectual property, especially in the form of patents.
An extensive empirical literature indicates that, even without formal intellectual property rights, innovators enjoy a variety of first-mover advantages and that 'imitation' is itself a costly activity. There is also accumulating evidence that an 'open' approach to knowledge production can deliver substantial efficiency advantages. This paper introduces a… (More)
The optimal level for copyright has been a matter for extensive debate over the last decade. This paper contributes several new results on this issue divided into two parts. In the first, a parsimonious theoretical model is used to prove several novel propositions about the optimal level of protection. Specifically, we demonstrate that (a) optimal copyright… (More)
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Life Cycle Costing (LCC) techniques are being used across a wide range of projects across different industries and have attracted considerable attention. However, LCC techniques are not widely used within the construction industry because of problems associated with LCC related processes such as data capture, reliability and certainty. Recent technological… (More)