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on Intellectual Property Rights |
| By: | Marc Baudry; Béatrice Dumont |
| Abstract: | In this paper, we address the problem of patent valuation. With this aim in view, we focus on the feasibility of a patent rating system. This leads us to develop a structural model of patent renewal decisions based on real options that links patent renewals and patent value and to estimate it on micro level data. Results for a sample of European patents show that unobserved heterogeneity is too high to efficiently discriminate among patents and cast some doubt on the possibility to develop a reliable rating system based only on patent metrics. |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2012-31&r=ipr |
| By: | Claudia Curi; Cinzia Daraio; Patrick Llerena |
| Abstract: | This paper assesses the efficiency of the technology transfer operated by the French university system and its main determinants. The analysis is based on a detailed and original database of 51 TTOs, categorized by type of university, over the period 2003-2007. Overall, we find low-level of efficiency and both intra-category and inter-categories efficiency variation. The analysis of determinants shows that French TTOs efficiency depends extensively on the nature of the category (with universities specialised in science and engineering resulting the most efficient ones), on institutional and environmental characteristics. We found that both the seniority of TTO and size of the university have a positive effect. In terms of environmental variables, the intensity of R&D activity (both private and public) has a positive impact; however, in terms of growth rate, only the Private R&D activity seems to be the main driver. Lastly, having a medical school related to a hospital is a source of inefficiency. |
| Keywords: | Technology Transfer Offices (TTOs), French University System, Technical Efficiency, DEA, Bootstrap. |
| JEL: | C34 C44 D24 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2012-02&r=ipr |
| By: | Ben Ferrett (School of Business and Economics, Loughborough University, UK); Joanna Poyago-Theotoky (School of Economics, La Trobe University, Australia) |
| Abstract: | We study the decision of two firms within an oligopoly concerning whether to enter into a horizontal agreement to exploit complementarities between their R&D activities and, if so, whether to merge or form a research joint venture (RJV). In contrast to horizontal merger, there is a probability that an RJV contract will fail to enforce R&D sharing. We find, first, that a horizontal agreement always arises. The insiders’ merger/RJV choice involves a trade-off. While merger offers certainty that R&D complementarities will be exploited, it leads to a profit-reducing reaction by outsiders on the product market, where competition is Cournot. Greater brand similarity and contract enforceability (“quality”) both favour RJV, while greater R&D complementarity favours merger. Interestingly, the insiders may choose to merge even when RJV contracts are always enforceable, and they may opt to form an RJV even when the likelihood of enforceability is negligible. |
| Keywords: | horizontal merger, research joint venture (RJV), contract enforceability, process R&D, R&D complementarity |
| JEL: | O30 L13 D43 |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:lbo:lbowps:2012_04&r=ipr |
| By: | Letizia Montinari (IMT Lucca Institute for Advanced Studies); Michael Rochlitz (IMT Lucca Institute for Advanced Studies) |
| Abstract: | In this paper, we investigate differences in and determinants of technical efficiency across three groups of OECD, Asian and Latin American countries. As technical efficiency determines the capacity with which countries absorb technology produced abroad, these differences are important to understand differences in growth and productivity across countries, especially for developing countries which depend to a large extend on foreign technology. Using a stochastic frontier framework and data for 22 manufacturing sectors for 1996-2005, we find notable differences in technical efficiency between the three country groups we examine. We then investigate the effect of human capital and domestic R&D, proxied by the stock of patents, on technical efficiency. We find that while human capital has always a strongly positive effect on efficiency, an increase in the stock of patents has positive effects on efficiency in high-tech sectors, but negative effects in low-tech sectors. |
| Keywords: | absorptive capacity, efficiency, stochastic frontier analysis |
| JEL: | C33 O14 O33 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:ial:wpaper:4&r=ipr |
| By: | Jeffrey Clemens (Stanford Institute for Economic Policy Research) |
| Abstract: | I study the effect of health insurance expansions on medical innovation. Practitioner dominated innovation (Roberts, 1988) creates an important role for the incentives in “local” payment systems as drivers of medical technology development. I show that, over the 15 years following Medicare and Medicaid’s passage, U.S.-based patenting shifted towards medical equipment by nearly 1.5 percentage points (50 percent) more than foreign patenting. This did not reflect a more general, U.S.-specific trend towards health-sector innovation; no such increase occurred among pharmaceutical patents, the markets for which were unaffected. Subsequent decreases in cost-sharing for all health spending are also associated with increases in U.S.-based patenting relative to foreign patenting in the relevant areas. Back-of-the-envelope calculations suggest that the dynamic effect of U.S. insurance expansions may account for around 25 percent of global medical-equipment innovation and 15 percent of the rise in U.S. health spending in hospitals, physicians’ offices, and other clinical settings from 1960 to 2010. |
| JEL: | O38 O31 H51 I11 |
| Date: | 2012–06 |
| URL: | http://d.repec.org/n?u=RePEc:sip:dpaper:11-016&r=ipr |