This paper aims at quantifying the economic value of knowledge spillovers by exploring information contained in patent citations. I estimate a market valuation equation for semiconductor firms during the 1980s and early 1990s, and find an average value in the amount of $0.6 to 1.2 million...

This paper aims at quantifying the economic value of knowledge spillovers by exploring information contained in patent citations. We estimate a market valuation equation for semiconductor firms during the 1980s and 1990s, and find an average value in the amount of $0.6 to 1.2 million...