Maximizing inventor's profit in the process of invention commercialization based on the Nordhaus model
Journal of European Economy, Volume 6, Issue 4, December 2007, pp.455-465
|JEL: O31, O38
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In this article, the author develops a model of inventor’s profit maximization in the process of commercializing an invention based on the critical analysis of the «optimal life of a patent» model offered by the American economist William Nordhaus. The author defines perspective directions for further modifications of the Nordhaus model for its application in the real economic conditions of Ukraine.