Scarcity rents.
Efficiency-enhancing innovation
Replicable by innovator?
NO
Incentive to restrict output?
Scarcity
(Ricardian)
rents
NO
YES
Scarcity rents + monopoly rents
YES
Imitable?
NO
YES
Quasirents or
Schumpeterian
rents
This analysis follows
Winter (1995, pp. 159-167).
