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Encyclopedia of Law and Economics pp 1217–1219Cite as

Knowledge

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Abstract

This essay focuses on two specific aspects of knowledge that make it interesting from the viewpoint of law and economics. First, we consider the nature of knowledge as a public good, discussing how non-excludability, non-rivalry, and positive externalities in knowledge production affect private incentives and generate a demand for state intervention. We discuss the role of patent and copyright laws, as well as other forms of state support, in this context. Secondly, considering knowledge as information, we examine the economic implications of asymmetries in information, and the extent to which laws and the legal mechanism can help solve the problems created by asymmetric information.

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References

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Author information

Authors and Affiliations

  1. Centre of International Trade and Development, School of International Studies, Jawaharlal Nehru University, New Delhi, India

    Brishti Guha

Authors
  1. Brishti Guha
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Corresponding author

Correspondence to Brishti Guha .

Editor information

Editors and Affiliations

  1. MRE and University of Montpellier, Montpellier, France

    Alain Marciano

  2. Faculté d’Economie, Université de Montpellier and LAMETA-UMR CNRS, Montpellier, France

    Alain Marciano

  3. DiGSPES, University of Eastern Piedmont, Alessandria, Italy

    Giovanni Battista Ramello

  4. IEL, Torino, Italy

    Giovanni Battista Ramello

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Guha, B. (2019). Knowledge. In: Marciano, A., Ramello, G.B. (eds) Encyclopedia of Law and Economics. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-7753-2_198

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