This paper uses a large language model to develop an ex-ante measure of the commercial potential of scientific findings. In addition to validating the measure against the typical holdout sample, we validate it externally against 1.) the progression of scientific findings through a major...

In this paper we replicate most of the stylized facts characterizing the decline in business dynamism in the USA highlighted by Akcigit and Ates (2021) and provide an explanation of their emergence by means of a macroeconomic agent-based model populated by two types of firms: innovators who...

In this paper we replicate most of the stylized facts characterizing the decline in business dynamism in the USA highlighted by Akcigit and Ates (2021) and provide an explanation of their emergence by means of a macroeconomic agent-based model populated by two types of firms: innovators who...

Innovations in consumer products frequently rely on technological advances across multiple tiers in a supply chain. Considering the consumer market demand and downstream investment conditions as input, we model a game in a two-tier supply chain where downstream firms choose to adopt different...

We analyze the impact of the establishment of a GBP 380 million basic scientific research facility in the UK on the geographical distribution of related research. We investigate whether the siting of the Diamond Light Source, a 3rd generation synchrotron light source, in Oxfordshire induced a...

Is there knowledge adoption of innovations from emerging economies? We theorize that, to help overcome information asymmetry across countries, granting patents to technology in the emerging economy of China can serve as a signal of technology potential and market opportunity to enhance...

Why do some innovators freely reveal their intellectual property? This empirical puzzle has been a focal point of debate in the R&D literature. We show that innovators may share proprietary technology with rivals for free - even if it does not directly benefit them - to slow down competition. By...

Scholars widely acknowledge that university research is critical to innovation and entrepreneurship. Much of the literature on university research, however, evokes a linear model from “science to products” and focuses, therefore, upon a limited set of indicators such as patents and licenses....

We provide causal evidence on the effects of language barriers on the speed and extent of knowledge diffusion by exploiting the introduction of pre-grant publications in the US. Language barriers account for almost half the diffusion lag of Japan-originating knowledge to US-based inventors,...

Nanotechnology has been touted as a general purpose technology (GPT) and engine of growth for the 21th century, following in the footsteps of ICT. Nanotechnology is still in an early phase of development, it is scientist driven and thus largely exogenous to the economy at present. In Finland the...