Kills innovation—diminished incentives for commercialization
Spulber 14 (Daniel F. Spulber has a PhD in economics from Northwestern University and previously ranked 6th among economics in the United States, “Prices versus Prizes: Patents, Public Policy, and the Market for Inventions,” “Northwestern University School of Law: Law and Economics Series • NO. 14-15,” URL: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2488095, August 28, 2014)//NTG
A government prize system would diminish private incentives for commercialization of inventions. Kieff’s (2001) emphasizes the importance of markets in stimulating commercialization of inventions. Public ownership or common ownership of inventions would eliminate private incentives for the commercialization of inventions, as Kieff (2001) explains (see also Abramowicz, 2003). Common ownership of inventions also would diminish incentives for innovation to develop products, manufacturing processes, and transaction techniques based on those inventions. Additionally, common ownership would diminish marketing of products that embody inventions.