Estimating the Gains from Trade in the Market for Innovation: Evidence from the Transfer of Patents / Carlos J. Serrano.

Format:

Book

Author/Creator:

Serrano, Carlos J.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w17304.

NBER working paper series no. w17304

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Estimating the Gains from Trade in the Market for Innovation

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2011.

Summary:

The "market for innovation" -- the sale and licensing of patents -- is an often discussed source of incentives to invest in R&D. This article presents and estimates a model of the transfer and renewal of patents that, under some assumptions, allows us to quantify the gains resulting from the transfer of patents in the market for innovation. The gains from trade measure the benefits of reallocating the ownership of a patent from the original inventor to a new owner for whom the patent has a higher value. In addition, we study the effect that lowering the costs of technology transfer has on the proportion of patents traded and the gains from trade.

Notes:

Print version record

August 2011.