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Displaying results 1 to 17 of 17.

  1. Invention Value, Inventive Capability and the Large Firm Advantage
    Author: Arora, Ashish; Cohen, Wesley M.; Lee, Honggi; Sebastian, Divya
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from... more

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    Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from their inventions. We develop a simple model that discriminates between the two explanations. Using a sample of 2,786 public corporations, and measures of both patent quality and patent value, we find that, while average invention value rises with size, average invention quality declines, suggesting, per our model, that the large firm advantage is not due to superior inventive capability, but due to the superior ability to extract value. We provide evidence suggesting that this superior ability to extract value is due to greater commercialization capabilities of larger firms

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30354
    Subjects: Großunternehmen; Erfindung; Patent; Innovationsmanagement; Technischer Fortschritt; Innovationswettbewerb; Innovation and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Technological Change: Choices and Consequences; Diffusion Processes; Intellectual Property and Intellectual Capital
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  2. Of Academics and Creative Destruction
    Startup Advantage in the Process of Innovation
    Author: Kolev, Julian; Haughey, Alexis; Murray, Fiona E. S.; Stern, Scott
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup... more

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    What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup ventures in the innovation process relative to more traditional alternatives such as academia and established private-sector incumbents. We develop a simple model of startup advantage based on private information held by the initial inventor, and generate predictions related to the value and impact of startup innovation. We then explore these predictions using patents granted within the regional ecosystems of top-25 research universities from 2000 to 2015. Our results show a significant startup advantage in terms of forward citations and outlier-patent rates. Further, startup innovation is both more original and more general than innovation by incumbent firms. Moreover, startups that survive to become "scale-ups" quickly grow to dominate their regional innovation ecosystems. Our findings have important implications for innovation policy

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30362
    Subjects: Innovation; Technischer Fortschritt; Unternehmensgründung; Wettbewerbsvorteil; USA; Contracting Out; Joint Ventures; Technology Licensing; Entrepreneurship; New Firms; Startups; Innovation and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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  3. A Model of Intangible Capital
    Author: Crouzet, Nicolas; Eberly, Janice C.; Eisfeldt, Andrea L.; Papanikolaou, Dimitris
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We propose a model that starts from the premise that intangible capital needs to be stored on some medium --- software, patents, essential employees --- before it can be utilized in production. Storage implies that intangible capital may be partially... more

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    We propose a model that starts from the premise that intangible capital needs to be stored on some medium --- software, patents, essential employees --- before it can be utilized in production. Storage implies that intangible capital may be partially non-rival within the firm, leading to scale economies. However, storage can also compromise the ability of the firm to fully appropriate the returns generated by intangibles. We explore the implications of these two mechanisms for firm scale, scope, and investment decisions, and we outline their connection to recent macroeconomic and financial trends in the US

     
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  4. The First Sale Doctrine and the Digital Challenge to Public Libraries
    Author: Reimers, Imke C.; Waldfogel, Joel
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Libraries have traditionally provided free communal access to books, facilitated by the first sale doctrine's (FSD) guarantee that libraries may purchase physical books at consumer prices. Increasingly restrictive ebook access terms may imperil... more

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    Libraries have traditionally provided free communal access to books, facilitated by the first sale doctrine's (FSD) guarantee that libraries may purchase physical books at consumer prices. Increasingly restrictive ebook access terms may imperil libraries, and we compare the welfare cost of higher ebook prices to the welfare benefit of the FSD's guarantee of low physical book prices for libraries and their patrons. Using data on over 8,000 library systems for 2013-2019, we measure the impacts of physical and electronic holdings on the respective formats' circulation. We then build a structural model of the library market, and we rationalize the status quo book holdings with a librarian utility function that attaches higher weights to electronic circulation. While higher counterfactual ebook prices would induce libraries to substitute physical for electronic holdings, this would have little effect on patron CS because of consumer willingness to substitute. By contrast, higher physical book prices, as would prevail absent the first sale doctrine, reduce CS by almost ten times as much as an analogous ebook price increase

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30392
    Subjects: Bibliothek; Buch; Elektronische Publikation; Bibliotheksdienstleistung; Konsumentenverhalten; USA; Publicly Provided Private Goods; Entertainment; Media; Intellectual Property and Intellectual Capital
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  5. Gender and Underrepresented Minority Differences in Research Funding
    Author: Cruz-Castro, Laura; Ginther, Donna K.; Sanz-Menéndez, Luis
    Published: June 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This chapter reviews the data and literature on gender, race and ethnicity differences in research funding in the United States and Europe. The gender gap in research funding has closed at the National Science Foundation and National Institutes of... more

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    This chapter reviews the data and literature on gender, race and ethnicity differences in research funding in the United States and Europe. The gender gap in research funding has closed at the National Science Foundation and National Institutes of Health in the United States and substantially narrowed in Europe. Underrepresented minorities are less likely to receive research funding that whites in the United States. We found that much of the literature was a series of informative independent studies where many of the potential explanations depended upon the context. Our examination of peer review also found contradictory evidence of its efficacy. The variety of countries, funders, and approaches to peer review make it difficult to make definitive conclusions in the face of contradictory evidence on the gender funding gap. We conclude that access to high-quality administrative data would allow for improved methodological approaches to understanding these differences in research funding

     
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  6. The Characteristics and Geographic Distribution of Robot Hubs in U.S. Manufacturing Establishments
    Author: Brynjolfsson, Erik; Buffington, Catherine; Goldschlag, Nathan; Li, J. Frank; Miranda, Javier; Seamans, Robert
    Published: March 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We use data from the Annual Survey of Manufactures to study the characteristics and geography of investments in robots across U.S. manufacturing establishments. We find that robotics adoption and robot intensity (the number of robots per employee) is... more

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    We use data from the Annual Survey of Manufactures to study the characteristics and geography of investments in robots across U.S. manufacturing establishments. We find that robotics adoption and robot intensity (the number of robots per employee) is much more strongly related to establishment size than age. We find that establishments that report having robotics have higher capital expenditures, including higher information technology (IT) capital expenditures. Also, establishments are more likely to have robotics if other establishments in the same Core-Based Statistical Area (CBSA) and industry also report having robotics. The distribution of robots is highly skewed across establishments' locations. Some locations, which we call Robot Hubs, have far more robots than one would expect even after accounting for industry and manufacturing employment. We characterize these Robot Hubs along several industry, demographic, and institutional dimensions. The presence of robot integrators and higher levels of union membership are positively correlated with being a Robot Hub

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w31062
    Subjects: Industrie; Roboter; Investition; Automatisierte Produktion; Räumliche Verteilung; Technologiepark; USA; Other Machinery; Business Equipment; Armaments; Intellectual Property and Intellectual Capital; Open Innovation; Economic Growth and Aggregate Productivity
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  7. Do Stronger IPR Incentivize Female Participation in Innovation? Evidence from Chinese AI Patents
    Author: Agrawal, Shubhangi; Rathi, Sawan; Chatterjee, Chirantan; Higgins, Matthew J.
    Published: June 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Do stronger intellectual property rights incentivize female participation in innovation? We provide new evidence on this question using a unique database of artificial intelligence patents publicly shared by the USPTO. Our identification strategy... more

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    Do stronger intellectual property rights incentivize female participation in innovation? We provide new evidence on this question using a unique database of artificial intelligence patents publicly shared by the USPTO. Our identification strategy leverages China's WTO TRIPs accession, which led to stronger intellectual property rights in 2002. We find a significant rise in the number of female inventors and an increase in the number of patents with females on inventor teams vis-a-vis a control group of countries. We also find that after stronger intellectual property rights, the quality of Chinese artificial intelligence patents with female inventors on the team improved. Results are robust controlling for unobserved heterogeneity at the country, technology class, and over time. Additional robustness tests with synthetic controls, coarsened exact matching, randomized inference and alternative control groups support our benchmark findings. Our results highlight that stronger intellectual property rights can be helpful in improving gender division of labor thereby benefiting society and innovation

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w32547
    Subjects: Frauen; Innovation; Patent; Immaterialgüterrechte; Patentrecht; Künstliche Intelligenz; WTO-Mitgliedschaft; China; inventor; Erfinder; Economics of Gender; Non-labor Discrimination; Intellectual Property and Intellectual Capital
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  8. Intellectual Property Protection Lost and Competition
    An Examination Using Machine Learning
    Author: Acikalin, Utku U.; Caskurlu, Tolga; Hoberg, Gerard; Phillips, Gordon M.
    Published: November 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and employment agreements. We consider firms whose ability to protect intellectual property (IP) using patents is weakened following the... more

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    We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and employment agreements. We consider firms whose ability to protect intellectual property (IP) using patents is weakened following the Alice Corp. vs. CLS Bank International Supreme Court decision. This decision has impacted patents in multiple areas including business methods, software, and bioinformatics. We use state-of-the-art machine learning techniques to identify firms' existing patent portfolios' potential exposure to the Alice decision. While all affected firms decrease patenting post-Alice, we find an unequal impact of decreased patent protection. Large affected firms benefit as their sales and market valuations increase, and their exposure to lawsuits decreases. They also acquire fewer firms post-Alice. Small affected firms lose as they face increased competition, product-market encroachment, and lower profits and valuations. They increase R&D and have their employees sign more nondisclosure agreements

     
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  9. Scope, Scale and Concentration
    The 21st Century Firm
    Author: Hoberg, Gerard; Phillips, Gordon M.
    Published: November 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases... more

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    We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases valuation and is primarily realized through acquisitions and investment in R&D, but not through capital expenditures. We show that traditional concentration ratios do not capture this expansion of scope. Our findings point to a new type of firm that increases scope through related expansion, which is highly valued by the market

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30672
    Subjects: Unternehmenswachstum; Unvollkommener Markt; Unternehmenskonzentration; Innovation; Immaterialgüterrechte; USA; Oligopoly and Other Forms of Market Imperfection; General; Innovation and Invention: Processes and Incentives; Intellectual Property and Intellectual Capital
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  10. Measuring the Commercial Potential of Science
    Author: Masclans, Roger; Hasan, Sharique; Cohen, Wesley M.
    Published: March 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    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... more

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    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 university's technology transfer process and 2.) firms' use of the academic science of major American research universities. We then illustrate the measure's utility by applying it to two questions. First, does the patenting of academic research by universities impede its breadth of use by firms? Second, to illustrate how this measure can advance our understanding of the determinants of firms' use of science generally, we use it to analyze how one factor, universities' reputations for generating commercializable science, impacts firms' use of academic science. For the former question, using our measure to control for commercializable science, we find that patenting does not dampen the dissemination of academic science in industry. For the second, we find that reputation per se, apart from the production of commercializable science, impacts industry's use of science, especially for that science with high commercial potential, implying that the commercializable science of less prominent universities is disproportionately overlooked by industry

     
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  11. Market Power in Artificial Intelligence
    Author: Gans, Joshua
    Published: March 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This paper surveys the relevant existing literature that can help researchers and policy makers understand the drivers of competition in markets that constitute the provision of artificial intelligence products. The focus is on three broad markets:... more

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    This paper surveys the relevant existing literature that can help researchers and policy makers understand the drivers of competition in markets that constitute the provision of artificial intelligence products. The focus is on three broad markets: training data, input data, and AI predictions. It is shown that a key factor in determining the emergence and persistence of market power will be the operation of markets for data that would allow for trading data across firm boundaries

     
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    Source: Union catalogues
    Language: English
    Media type: Book
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    Series: NBER working paper series ; no. w32270
    Subjects: Künstliche Intelligenz; Data Science; Datenmanagement; Marktmacht; Information and Product Quality; Standardization and Compatibility; General; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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  12. Copyright Policy Options for Generative Artificial Intelligence
    Author: Gans, Joshua
    Published: February 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    New generative artificial intelligence (AI) models, including large language models and image generators, have created new challenges for copyright policy as such models may be trained on data that includes copy-protected content. This paper examines... more

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    New generative artificial intelligence (AI) models, including large language models and image generators, have created new challenges for copyright policy as such models may be trained on data that includes copy-protected content. This paper examines this issue from an economics perspective and analyses how different copyright regimes for generative AI will impact the quality of content generated as well as the quality of AI training. A key factor is whether generative AI models are small (with content providers capable of negotiations with AI providers) or large (where negotiations are prohibitive). For small AI models, it is found that giving original content providers copyright protection leads to superior social welfare outcomes compared to having no copyright protection. For large AI models, this comparison is ambiguous and depends on the level of potential harm to original content providers and the importance of content for AI training quality. However, it is demonstrated that an ex-post `fair use' type mechanism can lead to higher expected social welfare than traditional copyright regimes

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w32106
    Subjects: Künstliche Intelligenz; Urheberrecht; General; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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  13. The Government Patent Register
    A New Resource for Measuring U.S. Government-Funded Patenting
    Author: Gross, Daniel P.; Sampat, Bhaven N.
    Published: February 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We introduce new historical administrative data identifying U.S. government-funded patents since the early twentieth century. In addition to the funding agency, the data report whether the government has title to the patent ("title" patents) or... more

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    We introduce new historical administrative data identifying U.S. government-funded patents since the early twentieth century. In addition to the funding agency, the data report whether the government has title to the patent ("title" patents) or funded a patent assigned to a private organization ("license" patents). The data include a large number of "license" patents that cannot be linked to government funding from patent text or other sources. Combining the historical data with modern administrative sources, we present a public, consolidated data series measuring U.S. government-funded patents--including funding agencies--through 2020, and we provide code to extend this series in the future. We use the data to document long-run patterns in U.S. government-funded patents and federal patent policy, propose ways in which these data can be used in future research, and discuss limitations of the data

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w32136
    Subjects: Technologiepolitik; Patent; Patentrecht; Forschungsdaten; USA; U.S.; Canada: 1913-; Innovation and Invention: Processes and Incentives; Intellectual Property and Intellectual Capital; Government Policy
    Scope: 1 Online-Ressource, illustrations (black and white)
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  14. Deadlines Versus Continuous Incentives
    Evidence from the Patent Office
    Author: Frakes, Michael; Wasserman, Melissa F.
    Published: January 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    A quota system with an associated deadline may retain the possibility of worker procrastination and related deadline behaviors. A performance appraisal system based on continuous temporal incentives, on the other hand, has the potential to alleviate... more

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    A quota system with an associated deadline may retain the possibility of worker procrastination and related deadline behaviors. A performance appraisal system based on continuous temporal incentives, on the other hand, has the potential to alleviate deadline effects but may lose some of the quality-related benefits associated with the flexibility of a quota/deadline system. We explore these tradeoffs by observing patent examiner behavior and examination quality outcomes surrounding a 2011 reform at the U.S. Patent and Trademark Office that built on its bi-weekly quota system by adding a set of bonuses tied to daily examination-pendency measures. We find a substantial reduction in deadline effects and near complete temporal smoothing in examiner behavior in connection with the reform, leading to large reductions in average examination pendency while resulting in no corresponding reductions in the accuracy of examinations

     
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    Source: Union catalogues
    Language: English
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    Series: NBER working paper series ; no. w32066
    Subjects: Leistungsanreiz; Leistungsmotivation; Arbeitsverhalten; Patentrecht; USA; Behavioral Microeconomics: Underlying Principles; Compensation Packages; Payment Methods; General; Intellectual Property and Intellectual Capital
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  15. The Wandering Scholars
    Understanding the Heterogeneity of University Commercialization
    Author: Lerner, Joshua; Manley, Henry J.; Stein, Carolyn; Williams, Heidi
    Published: January 2024
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    University-based scientific research has long been argued to be a central source of commercial innovation and economic growth. Yet at the same time, there have been long-held concerns that many university-based discoveries never realize their... more

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    University-based scientific research has long been argued to be a central source of commercial innovation and economic growth. Yet at the same time, there have been long-held concerns that many university-based discoveries never realize their potential social benefits. Looking across universities, research and commercialization activities such as start-up formation vary tremendously - variation that could reflect the composition and orientation of faculty research, university-level factors such as patenting and licensing efforts, or broader place-based factors such as location in a technology cluster. We take a first step towards unpacking this heterogeneity in university commercialization by analyzing how the propensity of academic research to spill over to commercial innovation changes when academics move across universities. Our estimates suggest that at least 15-25% of geographic variation in commercial spillovers from university-based research is attributable to place-specific factors

     
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    Source: Union catalogues
    Language: English
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    Series: NBER working paper series ; no. w32069
    Subjects: Universitäre Forschung; Spillover-Effekt; Industrieforschung; Regionalentwicklung; USA; Intellectual Property and Intellectual Capital; Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
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  16. Evaluation and Learning in R&D Investment
    Author: Frankel, Alex; Krieger, Joshua L.; Li, Danielle; Papanikolaou, Dimitris
    Published: May 2023
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We examine the role of spillover learning in shaping the value of exploratory versus incremental R&D. Using data from drug development, we show that novel drug candidates generate more knowledge spillovers than incremental ones. Despite being less... more

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    We examine the role of spillover learning in shaping the value of exploratory versus incremental R&D. Using data from drug development, we show that novel drug candidates generate more knowledge spillovers than incremental ones. Despite being less likely to reach regulatory approval, they are more likely to inspire subsequent successful drugs. We introduce a model where firms are better able to evaluate the viability of incremental drugs, but where investing in novel drugs helps firms learn about future projects. Firms appear to put more value on evaluation versus learning, and those patterns are in-part driven by the appropriability of spillovers

     
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    Source: Union catalogues
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    Series: NBER working paper series ; no. w31290
    Subjects: Pharmakologie; Pharmaindustrie; Arzneimittel; Industrieforschung; Wissenstransfer; Investition; Theorie; Portfolio Choice; Investment Decisions; Chemicals; Rubber; Drugs; Biotechnology; Plastics; Innovation and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Intellectual Property and Intellectual Capital
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  17. The Characteristics and Geographic Distribution of Robot Hubs in U.S. Manufacturing Establishments
    Author: Brynjolfsson, Erik; Buffington, Catherine; Goldschlag, Nathan; Li, J. Frank; Miranda, Javier; Seamans, Robert
    Published: 2023
    Publisher:  Leibniz-Institut für Wirtschaftsforschung Halle - IWH, Halle (Saale)

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