U.S. Universitiesï¾’ Net Returns from Patenting and Licensing: A Quantile Regression Analysis
AbstractIn line with the rights and incentives provided by the Bayh-Dole Act of 1980, U.S. universities have increased their involvement in patenting and licensing activities through their own technology transfer offices. Only a few U.S. universities are obtaining large returns, however, whereas others are continuing with these activities despite negligible or negative returns. We assess the U.S. universitiesï¾’ potential to generate returns from licensing activities by modeling and estimating quantiles of the distribution of net licensing returns conditional on some of their structural characteristics. We find limited prospects for public universities without a medical school everywhere in their distribution. Other groups of universities (private, and public with a medical school) can expect significant but still fairly modest returns only beyond the 0.9th quantile. These findings call into question the appropriateness of the revenue-generating motive for the aggressive rate of patenting and licensing by U.S. universities.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12672.
Date of creation: 01 Sep 2006
Date of revision:
Publication status: Published in Economics of Innovation and New Technology 2009, vol. 18 no. 2, pp. 123-137
Contact details of provider:
Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-09-16 (All new papers)
- NEP-EDU-2006-09-16 (Education)
- NEP-INO-2006-09-16 (Innovation)
- NEP-SOG-2006-09-16 (Sociology of Economics)
- NEP-TID-2006-09-16 (Technology & Industrial Dynamics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Nelson, Richard R, 2001. " Observations on the Post-Bayh-Dole Rise of Patenting at American Universities," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 13-19, January.
- Silverberg, Gerald & Verspagen, Bart, 2007.
"The size distribution of innovations revisited: An application of extreme value statistics to citation and value measures of patent significance,"
Journal of Econometrics,
Elsevier, vol. 139(2), pages 318-339, August.
- Silverberg, G. & Verspagen, B., 2004. "The size distribution of innovations revisited: an application of extreme value statistics to citation and value measures of patent significance," Working Papers 04.17, Eindhoven Center for Innovation Studies.
- Silverberg, G. & Verspagen, B., 2004. "The size distribution of innovations revisited: an application of extreme value statistics to citation and value measures of patent significance," Eindhoven Center for Innovation Studies (ECIS) working paper series 04.17, Eindhoven Center for Innovation Studies (ECIS).
- 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).
- Siegel, Donald S. & Waldman, David & Link, Albert, 2003. "Assessing the impact of organizational practices on the relative productivity of university technology transfer offices: an exploratory study," Research Policy, Elsevier, vol. 32(1), pages 27-48, January.
- Saul Lach & Mark Schankerman, 2004. "Royalty Sharing and Technology Licensing in Universities," Journal of the European Economic Association, MIT Press, vol. 2(2-3), pages 252-264, 04/05.
- Beath, John & Owen, Robert F. & Poyago-Theotoky, Joanna & Ulph, David, 2003. "Optimal incentives for income-generation in universities: the rule of thumb for the Compton tax," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1301-1322, November.
- Jerry G. Thursby & Marie C. Thursby, 2007. "University licensing," Oxford Review of Economic Policy, Oxford University Press, vol. 23(4), pages 620-639, Winter.
- Moshe Buchinsky, 1998. "Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research," Journal of Human Resources, University of Wisconsin Press, vol. 33(1), pages 88-126.
- He X. & Hu F., 2002. "Markov Chain Marginal Bootstrap," Journal of the American Statistical Association, American Statistical Association, vol. 97, pages 783-795, September.
- Link, Albert N. & Scott, John T. & Siegel, Donald S., 2003. "The economics of intellectual property at universities: an overview of the special issue," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1217-1225, November.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Bridges) The email address of this maintainer does not seem to be valid anymore. Please ask Stephanie Bridges to update the entry or send us the correct address.
If references are entirely missing, you can add them using this form.