Informational asymmetries abound in anonymous markets, such as those opening in the internet almost every day. In particular, before trading takes place, the typical buyer does not know whether her anonymous…
We investigate the opposing impacts of two basic effects underlying the decision to patent: the protective and the disclosure effect. On the one hand, patents grant a temporary monopoly to an inventor, and thus,…
For providing protection for intellectual property, patent law requires the comprehensive description of the invention, its making and using. The goal of this disclosure requirement is to provide newly generated…