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evaluate which type of work is more likely to spur further invention. When recent advances create superior opportunities for … invention, their adoption as research inputs in the invention process promotes technological progress. The gains from pursuing … determine idea inputs in invention based on the text of nearly every US patent granted during 1836–2010. We find that inventions …
Persistent link: https://www.econbiz.de/10013029014
Great achievements in knowledge are produced by older innovators today than they were a century ago. Using data on Nobel Prize winners and great inventors, I find that the age at which noted innovations are produced has increased by approximately 6 years over the 20th Century. This trend is...
Persistent link: https://www.econbiz.de/10013219327
Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...
Persistent link: https://www.econbiz.de/10013225156
This paper analyzes how both the value of ideas created as well as the security of intellectual property rights result from the choices of potentially creative people either to engage in creative activity or to be pirates, and from decisions of people who are engaged in creative activity to...
Persistent link: https://www.econbiz.de/10013249223
knowledge is an input into internal invention, and thus, more valuable to firms with inventive capability. Using a simple model … of innovation and imitation, we explore how inventive capability affects a firm's R&D investments, and thus whether and … innovation and the division of innovative labor among US manufacturing firms, we find that high capability firms tend to use …
Persistent link: https://www.econbiz.de/10012911085
At least since Arrow (1962), the effects of appropriability on invention have been well studied, but there has been … terminate or commercialize the invention is driven by the current market value of the invention, as well as the option value of …
Persistent link: https://www.econbiz.de/10013248228
established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the … invention process promotes technological progress. The gains from pursuing such innovative research paths may, however, be very … the existing knowledge base. In this paper, we first develop a new approach to identifying research inputs in invention …
Persistent link: https://www.econbiz.de/10013065176
Novel early stage ideas face uncertainty on the expertise needed to elaborate them, which creates a need to circulate them widely to find a match. Yet as information is not excludable, shared ideas may be stolen, reducing incentives to innovate. Still, in idea-rich environments inventors may...
Persistent link: https://www.econbiz.de/10013068289
Previous studies have found large gender and racial differences in commercialization of invention. Using novel data … commercial activity related to invention are lower than once thought. This is despite relatively lower patent activity among …
Persistent link: https://www.econbiz.de/10013069299
agglomeration of US innovation. This study applies an ethnic-name database to individual US patent records to explore these trends …
Persistent link: https://www.econbiz.de/10013070598