Rewarding Failure – Francesco Parisi (Universities of Minnesota & Bologna)

In this episode of the CLE Vlog & Podcast Series, Prof. Francesco Parisi (University of Minnesota & University of Bologna) discusses his paper "Rewarding Failure" with Gianmarco Torchetti (ETH Zurich).In their work, Parisi and his co-authors Alice Guerra and Andres Sawicki challenge the one-sided incentive structure of intellectual property law, which rewards only successful innovations while overlooking the social value of failed research. The paper shows how negative results – information about what does not work – can generate significant learning externalities that benefit future research. Yet, under current legal frameworks, these valuable failures often go unshared. Paper Reference: Alice Guerra – University of Bologna Francesco Parisi – University of Minnesota & University of BolognaAndres Sawicki – University of MiamiRewarding FailureUniversity of Miami Legal Studies Research Paper No. 4726758 Minnesota Legal Studies Research Paper No. 24-12https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4726758Audio Credits for Trailer:AllttA by AllttA https://youtu.be/ZawLOcbQZ2w