about the relationship between the patent system and innovation, in order to draw some tentative conclusions about their … financial patents at the US Patent and Trademark Office, and to have also impacted other patent offices around the world. A …

. We identify research inputs based on a natural language analysis of 10 billion word and word sequence patent pairs in 6 …, we develop also a new measure of patent value. The measure distinguishes between citations that reflect the cumulative …

We model early expectations about the value and technological importance ('quality') of a patented innovation as a … latent variable common to a set of four indicators: the number of patent claims, forward citations, backward citations and … important. Our measure of quality is significantly related to subsequent decisions to renew a patent and to litigate …

innovate more. The elasticity of innovation with respect to size appears to have increased sharply since the State Street …

This paper presents quantitative estimates of the private value of property rights conferred by patent protection for … different technology fields and countries of ownership. The measures are derived from parametric estimation of a model of patent … renewal, using a new data set on patent renewals in France during the period 1969-1987. The results show that patent …

The trickle of business method patents issued by the United States Patent Office became a flood after the State Street … decision itself. This paper discusses the likely impact of these patents on innovation. It first reviews the facts about … business method and internet patents briefly and then explores what economists know about the relationship between the patent …

While the traditional view of financial innovation emphasizes the risk sharing role of new financial assets, belief …. This paper investigates the effect of financial innovation on portfolio risks in an economy when both the risk sharing and … based on belief disagreements. Financial innovation always decreases the uninsurable variance because new assets increase …