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Valuing environmental patents legal protection when data is not available

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Author Info
Simona Tenaglia (ISFOL - Institute for the Development of Training for Workers)
Marco Ventura (ISAE - Institute for Studies and Economic Analyses)

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Abstract

This paper aims at estimating the value of legal patent protection of environment-related technologies, using the real options approach. In particular, we manage to overcome the problem of the lack of data for those countries that do not collect patent renewal data. Following this estimation strategy, we rank the value of legal patent protection for seventeen countries, closely reproducing other rankings based on surveys, for instance the PatVal survey by the EU Commission (2006), but relying on macro data publicly available and easy to access. The unit value of damage is found to be the most important determinant of the value of patents granted by legal protection.

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File URL: http://www.isae.it/Working_Papers/WP_103_2008_Tenaglia_Ventura.pdf
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Publisher Info
Paper provided by ISAE - Institute for Studies and Economic Analyses - (Rome, ITALY) in its series ISAE Working Papers with number 103.

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Length: 26 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:isa:wpaper:103

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Related research
Keywords: value of patents; legal protection; real options; abatement technology; environmental technologies.;

Find related papers by JEL classification:
K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
O38 - Economic Development, Technological Change, and Growth - - Technological Change - - - Government Policy
Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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References listed on IDEAS
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  1. Brusoni, Stefano & Crespi, Gustavo & Francoz, Dominique & Gambardella, Alfonso & Garcia-Fontes, Walter & Geuna, Aldo & Giuri, Paola & Gonzales, Raul & Harhoff, Dietmar & Hoisl, Karin & LeBas, Christia, 2006. "Everything You Always Wanted to Know about Inventors (But Never Asked): Evidence from the PatVal-EU Survey," CEPR Discussion Papers 5752, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  2. Nicolas van Zeebroeck, 2007. "The puzzle of patent value indicators," Working Papers CEB 07-023.RS, Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB). [Downloadable!]
  3. Mark Schankerman, 1998. "How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 77-107, Spring. [Downloadable!] (restricted)
  4. Lanjouw, Jean O & Pakes, Ariel & Putnam, Jonathan, 1998. "How to Count Patents and Value Intellectual Property: The Uses of Patent Renewal and Application Data," Journal of Industrial Economics, Blackwell Publishing, vol. 46(4), pages 405-32, December. [Downloadable!] (restricted)
  5. Mansfield, Edwin & Schwartz, Mark & Wagner, Samuel, 1981. "Imitation Costs and Patents: An Empirical Study," Economic Journal, Royal Economic Society, vol. 91(364), pages 907-18, December. [Downloadable!] (restricted)
  6. Nicholas Bloom & John Van Reenen, 2002. "Patents, Real Options and Firm Performance," Economic Journal, Royal Economic Society, vol. 112(478), pages C97-C116, March. [Downloadable!] (restricted)
  7. 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. [Downloadable!] (restricted)
  8. Ariel Pakes, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," NBER Working Papers 1340, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  9. Lanjouw, Jean Olson, 1998. "Patent Protection in the Shadow of Infringement: Simulation Estimations of Patent Value," Review of Economic Studies, Blackwell Publishing, vol. 65(4), pages 671-710, October. [Downloadable!] (restricted)
  10. Ernst, Holger, 2001. "Patent applications and subsequent changes of performance: evidence from time-series cross-section analyses on the firm level," Research Policy, Elsevier, vol. 30(1), pages 143-157, January. [Downloadable!] (restricted)
  11. Ashish Arora & Marco Ceccagnoli & Wesley M. Cohen, 2003. "R&D and the Patent Premium," NBER Working Papers 9431, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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