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Accounting for the recent surge in U.S. patenting: Changes in R&D expenditures, patent yields, and the high tech sector

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Author Info

  • Gerald Marschke
  • Jinyoung Kim

Abstract

We present a model of how organizations manage performance measures when gaming is revealed over time. The incentive designer does not know when it selects a performance measure whether it will communicate the right behavior. Only over time does the principal find out the agent's responses and then uses this additional information to update and finetune the incentive system. Using data from a government organization, we test the model's main prediction that the correlation between the performance measure and the true goal of the organization should change after the performance measure is included in the incentive system and we find some evidence consistent with this hypothesis.

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Bibliographic Info

Paper provided by University at Albany, SUNY, Department of Economics in its series Discussion Papers with number 02-10.

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Date of creation: 2002
Date of revision:
Handle: RePEc:nya:albaec:02-10

Contact details of provider:
Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.
Phone: (518) 442-4735
Fax: (518) 442-4736

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Postal: Department of Economics, BA 110 University at Albany State University of New York Albany, NY 12222 U.S.A.
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Web: http://www.albany.edu/economics/research/workingp/index.shtml

Related research

Keywords: Patents; Innovation; Technology; Research Productivity;

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References

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  1. Bronwyn H. Hall & Adam Jaffe & Manuel Trajtenberg, 2001. "Market Value and Patent Citations: A First Look," Development and Comp Systems 0012002, EconWPA.
  2. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
  3. Hall, B. & Jaffe, A. & Trajtenberg, M., 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," Papers 2001-29, Tel Aviv.
  4. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)," NBER Working Papers 7552, National Bureau of Economic Research, Inc.
  5. Lanjouw, Jean O & Lerner, Josh, 2001. "Tilting the Table? The Use of Preliminary Injunctions," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 573-603, October.
  6. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January.
  7. Jaffe, Adam B., 2000. "The U.S. patent system in transition: policy innovation and the innovation process," Research Policy, Elsevier, vol. 29(4-5), pages 531-557, April.
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Citations

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Cited by:
  1. Hoenen, Sebastian & Kolympiris, Christos & Schoenmakers, Wilfred & Kalaitzandonakes, Nicholas, 2014. "The diminishing signaling value of patents between early rounds of venture capital financing," Research Policy, Elsevier, vol. 43(6), pages 956-989.
  2. Jinyoung Kim & Sangjoon John Lee & Gerald Marschke, 2007. "International Knowledge Flows: Evidence from an Inventor-Firm Matched Data Set," Discussion Paper Series 0706, Institute of Economic Research, Korea University.
  3. William R. Kerr, 2008. "The Agglomeration of US Ethnic Inventors," Harvard Business School Working Papers 09-003, Harvard Business School.
  4. Bronwyn H. Hall, 2005. "Exploring the Patent Explosion," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 35-48, 01.
  5. Nemet, Gregory F., 2012. "Inter-technology knowledge spillovers for energy technologies," Energy Economics, Elsevier, vol. 34(5), pages 1259-1270.
  6. William R. Kerr, 2007. "The Ethnic Composition of US Inventors," Harvard Business School Working Papers 08-006, Harvard Business School.
  7. William R. Kerr, 2013. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns," Harvard Business School Working Papers 14-039, Harvard Business School.
  8. Jérôme Danguy & Gaétan de Rassenfosse & Bruno Van Pottelsberghe, 2013. "On the Origins of the Worldwide Surge in Patenting: An Industry Perspective on the R&D-patent Relationship," Working Papers ECARES 2013/143016, ULB -- Universite Libre de Bruxelles.
  9. Carsten Fink & Mosahid Khan & Hao Zhou, 2013. "Exploring the worldwide patent surge," WIPO Economic Research Working Papers 12, World Intellectual Property Organization - Economics and Statistics Division.
  10. Seong-Sang Lee & Yeonbae Kim, 2009. "The Impact of Efficiency Parameters on Firms Innovative Activities: Evidence from Korean Firm-level data," TEMEP Discussion Papers 200924, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Nov 2009.
  11. repec:nbr:nberwo:15501 is not listed on IDEAS
  12. Vincent Wenxiong Yao, 2006. "Intra-industry spillovers and innovation: An econometric analysis at the firm level," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(2), pages 119-135.
  13. Godinho, Manuel Mira & Ferreira, Vítor, 2012. "Analyzing the evidence of an IPR take-off in China and India," Research Policy, Elsevier, vol. 41(3), pages 499-511.

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