Patent citation data are used in a growing body of economics and business research on technological diffusion. Research … diffusing outward from the patenting entity. Until now, there exists little evidence on whether or not patent citations are a … good measure of knowledge flows. Our paper assesses the legitimacy of using European patent citations as a measure of …

issue, we build a model in which the value of an innovation depends both on the type of innovation implemented (product …, process) and on the existence of a patent protection or not. We obtain a three-equation model that links the values of product … and process innovations to the value of patent protection. This model and the feature of the data imply the estimation of …

In a model of sequential patent races, it is examined whether or not introducing a patent law in the home country is … beneficial to the firms and the society as a whole given the foreign country already offers patent protection. Before the first … patent race starts, the firms and the foreign country share interests. For a given total number of firms, the welfare effect …

from research institutions. Using data from the German innovation survey we investigate how firms are able to exploit … knowledge from external partners for successful innovation activities. The estimation results show that the determinants of … absorptive capacity differ with respect to the type of knowledge absorbed for innovation activities. In particular we find that …

are taken into account. The paper proposes a theory of innovation and market structure, showing that the relation between … innovation and competition depends on horizontal spillovers, vertical spillovers, and cooperative settings. The private …

. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …