Patent rights, creative wrong?

Inventors "buying and selling key components of their discoveries" beats the winner-take-all system of patent rights as a motivating force, according to the results of some research from Caltech.

As opposed to the single-winner structure of patents, which can dissuade potential competitors, markets take advantage of the fact the 50 percent of people consistently believe that they're better than the median, which, statistically speaking, is impossible. Structuring some games so that the partial solutions were rewarded resulted in more collaboration and faster development of good solutions to problems, a point investigators were able to make by asking volunteers to solve the knapsack problem.

Sure there is a correlation between R&D and patentable solutions, but not, perhaps, between that and financial performance. If the Caltech research is to be believed, the incentives are just all wrong.

Wayne