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We examine deadlines-induced behavior using large-scale, high frequency data on about 5 million U.S. patents and published applications. We motivate the study with a model of rational agents facing discontinuous incentives around deadline thresholds, without using time-inconsistent preferences...
Persistent link: https://www.econbiz.de/10012905220
We propose an industry-level index of capital liquidity - defined as the share of used capital in aggregate industry capital expenditure - that relates (inversely) to sunkenness of capital investment. We then test the effect of capital liquidity on the dispersion and mean of industry...
Persistent link: https://www.econbiz.de/10014049437
We build a new concordance between the NBER Patent Data and US Census micro-data, and use it to examine what happens when firms patent. We find strong evidence that increases in patent stock are associated with increases in firm size and scope as well as with changes in factor intensity. We find...
Persistent link: https://www.econbiz.de/10014026002