We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is … allocated to high-quality invention projects. Using data on patents granted to small firms and individuals, we find evidence …

motivations to invent, and the actual use and economic value of the patents. …

measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …

Modern growth theory puts invention on the center stage. Inventions are created by individuals, raising the question … invention, using data on U.S. patents’ Finnish inventors and the distance to the nearest technical university as an instrument …. We find a positive effect of engineering education on the propensity to patent, and a negative OLS bias. Our …

communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the … transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the … choice between venture capital and other forms of finance, and the determinants of the decision to seek patent protection for …

externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that … innovation output is higher in regions where large and small firms coexist. The finding is robust to across-region as well as …

Patents are a useful but imperfect reward for innovation. In sectors like pharmaceuticals, where monopoly distortions … lower prices. Innovation prizes and other non-patent rewards are becoming more prevalent in government's innovation policy … seem particularly severe, there is growing international political pressure to identify alternatives to patents that could …

sectors (inter-sectoral spillovers), or at the international level. We find that innovation is strongly driven by knowledge … spillovers, especially those occurring at the national level. Wind and solar technologies exhibit distinct innovation … only influential in the case of wind technology. We also find evidence that public R&D stimulates innovation, particularly …

registered at least one patent in the United States during the period 1969–88, while the second consists of 1,624 firms who … produced at least one major innovation at any time in the United Kingdom from 1945–82. Both datasets yield the same conclusion …