This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

date, have largely concluded that patent pools have been associated with reduced rates of technical innovation in the …. As theory seems to predict, the empirical effects of patent pools on innovation are likely to be ambiguous, dependent on …The impact of patent pools on the rate and direction of technological change is an open question in both theoretical …

innovation distinguishing between "dirty" (internal combustion engine) and "clean" (e.g. electric and hybrid) patents across 80 … tax-inclusive fuel prices. Furthermore, there is path dependence in the type of innovation both from aggregate spillovers … and from the firm's own innovation history. Using our model we simulate the increases in carbon taxes needed to allow …

We propose a new measure of the economic importance of each innovation. Our measure uses newly collected data on … patent- level estimates of private economic value are positively related to the scientific value of these patents, as … measured by the number of citations that the patent receives in the future. Our new measure is associated with substantial …

Patent pools allow a group of firms to combine their patents as if they were a single firm. Theoretical models predict … that pools encourage innovation in pool technologies, albeit at the cost of innovation in substitutes. Empirical evidence … innovations by new firms for a historical pool in the sewing machine industry (1856-1877) to examine effects on innovation …

The "market for innovation" -- the sale and licensing of patents -- is an often discussed source of incentives to … assumptions, allows us to quantify the gains resulting from the transfer of patents in the market for innovation. The gains from … trade measure the benefits of reallocating the ownership of a patent from the original inventor to a new owner for whom the …

change and innovation has radically changed the living standards of the citizens of the US in the past 150 years. Lying … the presence of post offices in a county, on innovation. We show that between 1804 and 1899, the time when the US became …

effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

innovation. We identify significant patents based on textual similarity of a given patent to previous and subsequent work: these …We use textual analysis of high-dimensional data from patent documents to create new indicators of technological … patents are distinct from previous work but are related to subsequent innovations. Our measure of patent significance is …

estimation is over panel datasets of patent grants, and unpatented innovations that were submitted for prizes at the annual … hypothesize that the difference partly owes to the design of patent institutions, which explicitly incorporate mechanisms for …