@booklet {61951,
	title = {Patent Buy-Outs: A Mechanism for Encouraging Innovation},
	year = {1997},
	note = {Download PDF},
	month = {Dec 1, 1997},
	abstract = {This paper examines a mechanism under which governments would use an auctuion to extimate the private value of patents and then offer to buy out patents at this private value, times a fixed markup. Patent buy{\textendash}outs may be particularly appropriate for pharmaceuticals.},
	author = {Michael Kremer}
}
