Innovation Policy and the Economy, Volume 16.

• Position: Bureau Books

Innovation Policy and the Economy, Volume 16

Edited by Josh Lerner and Scott Stern

Cloth $60,

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The papers in the sixteenth annual volume of the National Bureau of Economic Research (NBER) Innovation Policy group offer insights into the changing landscape of innovation by highlighting recent developments in the financing of innovation and entrepreneurship and in the economics of innovation and intellectual property.

The first chapter, by Ramana Nanda and Matthew Rhodes-Kropf, explores the process of experimentation in the context of financing of technology start-ups by venture capitalists. The second, by Yael Hochberg, also analyzes the role of entrepreneurial experimentation by systematically examining the rise of start-up accelerators. The third chapter, by Heidi Williams, studies the relationship between the strength of intellectual property rights and innovation. The fourth paper, by Fiona Scott Morton and Carl Shapiro, discusses recent changes to the patent system and whether they align the rewards from intellectual property with the marginal contributions made by innovators and other...