Goodfriend Memorial Lecture: Knowledge Creation and Diffusion

Hugo A. Hopenhayn

Richmond Fed Economic Brief, 2023, vol. 23, issue 18

Abstract: On May 11, 2023, Hugo Hopenhayn delivered the inaugural Marvin Goodfriend Memorial Lecture with a presentation of his paper "Knowledge Creation and Diffusion with Limited Appropriation," which was co-authored with Liyan Shi. The paper highlights how intellectual property rights must trade off incentives for innovation and knowledge diffusion and considers the optimal assignment of property rights as a Ramsey problem in a dynamic model where knowledge diffusion takes place under random matching. Hopenhayn is a professor of economics at UCLA, a Guggenheim Fellow and a long-term Richmond Fed research consultant.

Keywords: intellectual property rights; innovation; Knowledge diffusion (search for similar items in EconPapers)
Date: 2023
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