Abstract: |
Considering collaborative innovation in patent development, we provide
micro-level evidence of knowledge spillovers. Knowledge embodied in a patent
is proxied by word pairs appearing in its abstract, while novelty is measured
by the frequency with which these word pairs have appeared in past patents.
Inventors are assumed to possess the knowledge associated with patents in
which they have previously participated. We find that collaboration by
inventors with more mutually differentiated knowledge sets is likely to result
in patents with higher novelty. |