The study of innovation and technological change is an increasing field of economic enquire because innovation can be … considered a major engine of growth. This paper is concerned with the determinants of innovation and technological change …

the costs and benefits of the patent system, the use of patents as innovation indicators, and the need for more research …The role patents play for innovation is not clear, but patenting activity has increased in the last decades. This … article reviews the empirical evidence on traditional and novel roles of patents to assess their impacts on innovation in …

This paper investigates how patent applications and grants held by new ventures improve their ability to attract … British biotechnology companies we have identified all patents filed at the European Patent Office (EPO). Applying hazard rate … analysis, we find that in the presence of patent applications, VC financing occurs earlier. Our results also show that VCs pay …

the primary patent covering an innovation and whether the innovating firm's licenses its innovation or raises external …The importance of intellectual property (IP) rights for commercializing innovation is well established. Moreover … innovation alone, it is not clear how obtaining IP rights will impact the choice between licensing product rights and continuing …

We consider procurement of an innovation from heterogeneous sellers. Innovations are random but depend on unobservable … effort and private information. We compare two procurement mechanisms where potential sellers first bid in an auction for … admission to an innovation contest. After the contest, an innovation is procured employing either a fixed prize or a first …