value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality … inventions, reliance on science may enhance gains from trade and reduce the transfer cost of knowledge and other transaction … costs. Using large scale data, we show that patents citing science are more likely to be traded, especially for novel …

Scientists, social scientists and politicians frequently credit basic science with stimulating technological innovation … university and science-based patents. The analyses suggest that heightened communication explains a substantial amount of the …