Markets outperform patents in promoting intellectual discovery, say economists

When it comes to intellectual curiosity and creativity, a market economy in which inventors can buy and sell shares of the key components of their discoveries actually beats out the winner-takes-all world of patent rights as a motivating force, according to a California Institute of Technology (Caltech)-led team of researchers.

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<p><a href="http://www.physorg.com/news155486207.html">Markets outperform patents in promoting intellectual discovery, say economists</a></p> <p>When it comes to intellectual curiosity and creativity, a market economy in which inventors can buy and sell shares of the key components of their discoveries actually beats out the winner-takes-all world of patent rights as a motivating force, according to a California Institute of Technology (Caltech)-led team of researchers.</p>