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Patents and R&D: The Tournament Effect
The authors dentify a new route through which patent protection may affect R&D incentives, the tournament effect. It may decrease R\&D incentives, in which case patent protection may either adversely affect the level of R&D, or may discourage licensing. In either case welfare may fall.
Link
http://www.isid.ac.in/~planning/workingpapers/dp05-05.pdf