A Governance Framework for Intellectual Property Rights
Chapter 9: Public choice theory and social production
Although public choice theory is a relatively complex discipline, many of the lessons emerging from it are reasonably simple. As an example, concentrated interest groups are likely to have significant influence over regulatory frameworks. This regulatory capture lesson has been critical for the contemporary environment movement in developing strategies to counteract regulatory effects of concentrated interests. In this regard environmentalists have underscored two essential limbs to public choice theory. The first limb is concerned with the regulatory capture of concentrated power holders. This limb will be discussed mostly through the lens of rent seeking. The second limb relates to overcoming collective action problems. We will explore this limb with primary reference to civil society and the associated public sphere. The chapter begins by discussing similarities and differences between welfare economics and public choice theory. We will then discuss the two limbs of public choice theory. In doing so, the idea of social production as a complementary method of overcoming collective action problems will be advanced. This discussion involves fleshing out the ‘hardware-code-content’ paradigm. The information process and allocative efficiency characteristics of social production will also be drawn out. Part I of this book applied welfare economics to IPRs. This involved identification and analysis of market failures within the information environment and contemplating social net product analysis as it relates to the information environment. In Part IV public choice theory is applied to the information environment.
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