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Patent Citations, the Value of Innovations and Path-Dependency

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  • Bulat Sanditov

    (CESPRI and MERIT, Bocconi University, Milano,Italy and Universiteit Maastricht.)

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    Abstract

    This paper examines how the framework of path-dependency and technological trajectories can be applied to explain the observed distribution of patent values as it is revealed in the distribution of patent citations. A very simple model of based on generalized Polya urn processes is proposed to describe evolution of patent values. It is shown that the model fits empirical distribution of patent citations (USPTO and EPO data) surprisingly well.

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    File URL: ftp://ftp.unibocconi.it/pub/RePEc/cri/papers/WP177Sanditov.pdf
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    Bibliographic Info

    Paper provided by KITeS, Centre for Knowledge, Internationalization and Technology Studies, Universita' Bocconi, Milano, Italy in its series KITeS Working Papers with number 177.

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    Length: 43 pages
    Date of creation: Nov 2005
    Date of revision: Nov 2005
    Handle: RePEc:cri:cespri:wp177

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    Related research

    Keywords: Size of Innovation; Patent Citations; Path-Dependency in Technical Change;

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    References

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    1. Pakes, Ariel, 1985. "On Patents, R & D, and the Stock Market Rate of Return," Scholarly Articles 3436409, Harvard University Department of Economics.
    2. Ariel Pakes & Mark Schankerman, 1979. "The Rate of Obsolescence Of Knowledge, Research Gestation Lags, and the Private Rate of Return to Research Resources," NBER Working Papers 0346, National Bureau of Economic Research, Inc.
    3. Scherer, F. M. & Harhoff, Dietmar, 2000. "Technology policy for a world of skew-distributed outcomes," Research Policy, Elsevier, vol. 29(4-5), pages 559-566, April.
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    6. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
    7. Bronwyn Hall & Adam Jaffe and Manuel Trajenberg, 2000. "Market Value and Patent Citations: A First Look," Economics Series Working Papers 2000-W17, University of Oxford, Department of Economics.
    8. Jaffe, Adam B & Trajtenberg, Manuel & Henderson, Rebecca, 1993. "Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 577-98, August.
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    20. Pakes, Ariel S, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," Econometrica, Econometric Society, vol. 54(4), pages 755-84, July.
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    22. A. Bassanini & G. Dosi, 1998. "Competing Technologies, International Diffusion and the Rate of Convergence to a Stable Market Structure," Working Papers ir98012, International Institute for Applied Systems Analysis.
    23. Silverberg,Gerald & Verspagen,Bart, 2004. "The size distribution of innovations revisited: an application of extreme value statistics to citation and value measures of patent significance," Research Memorandum 021, Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT).
    24. Balconi, Margherita & Breschi, Stefano & Lissoni, Francesco, 2004. "Networks of inventors and the role of academia: an exploration of Italian patent data," Research Policy, Elsevier, vol. 33(1), pages 127-145, January.
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    26. Manuel Trajtenberg & Adam B. Jaffe & Michael S. Fogarty, 2000. "Knowledge Spillovers and Patent Citations: Evidence from a Survey of Inventors," American Economic Review, American Economic Association, vol. 90(2), pages 215-218, May.
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    Cited by:
    1. Carolina Castaldi & Bart Los, 2008. "The identification of important innovations using tail estimators," Innovation Studies Utrecht (ISU) working paper series 08-07, Utrecht University, Department of Innovation Studies, revised Feb 2008.

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