Property Market Efficiency: Developed or Vacant Property

Intellectual Property and Market Size

Intellectual property protection involves a trade-off between the undesirability of monopoly and the desirable encouragement of creation and innovation. As the scale of the market increases, due either to economic and population growth or to the expansion of trade through treaties such as the World Trade Organization, this trade-off changes. We show that, generally speaking, the socially optima...

Opportunities in the European Industrial Property Market

On a pan-European basis, industrial property values have only increased marginally following the global financial crisis. Yet, despite continued financial pressures in the region, Prologis research indicates the recovery of industrial values in Europe should continue at a stronger pace compared with the other real estate sectors. Cyclical factors, including a deficit in Class-A space and attrac...

Market Power and Transferable Property Rights

Market Size and Intellectual Property Protection

Intellectual property (IP) protection involves a trade-off between the undesirability of monopoly and the desirable encouragement of creation and innovation. Optimal policy depends on the relative strength of these two forces. We give a quantitative assessment of current IP policies. We focus particularly on the scale of the market, showing that as it increases, due either to growth or to the e...

Intellectual Property Rights and Market Dynamics