Labor Mobility of Scientists, Technological Diffusion, and the Firm's Patenting Decision
AbstractWe develop and test a model of the patenting and R&D decisions of an innovating firm whose scientist-employees sometimes quit to join or start a rival. In our model, the innovating firm patents to protect itself from its employees. We show theoretically that the risk of a scientist's departure reduces the firm's R&D expenditures and raises its propensity to patent an innovation. We find evidence from firm-level panel data that is consistent with this latter result. Our results suggest that scientists' turnover is associated with cross-industry patenting variation and with recent economy-wide increases in patenting. Scientists' turnover may also partly account for why small firms have high patent-R&D ratios.
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Bibliographic InfoArticle provided by The RAND Corporation in its journal RAND Journal of Economics.
Volume (Year): 36 (2005)
Issue (Month): 2 (Summer)
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Web page: http://www.rje.org
Other versions of this item:
- Gerald Marschke & Jinyoung Kim, 2001. "Labor Mobility of Scientists, Technological Diffusion, and the Firm's Patenting Decision," Discussion Papers 01-03, University at Albany, SUNY, Department of Economics.
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- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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