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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
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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

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Keywords: Patents; Innovation; Technology; Research Productivity;

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References

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  1. Hall, Bronwyn H. & Jaffee, Adam & Trajtenberg, Manuel, 2000. "Market Value and Patent Citations: A First Look," Department of Economics, Working Paper Series qt1rh8k6z2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  2. 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.
  3. Wesley M Cohen & Richard R Nelson & John P Walsh, 2003. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (Or Not)," Levine's Working Paper Archive 618897000000000624, David K. Levine.
  4. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1986. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
  5. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001. "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER Working Papers 8498, National Bureau of Economic Research, Inc.
  6. 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.
  7. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January.
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Citations

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Cited by:
  1. 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.
  2. Jinyoung Kim & Sangjoon John Lee & Gerald Marschke, 2009. "International Knowledge Flows: Evidence from an Inventor-Firm Matched Data Set," NBER Chapters, in: Science and Engineering Careers in the United States: An Analysis of Markets and Employment, pages 321-348 National Bureau of Economic Research, Inc.
  3. Bronwyn Hall, 2004. "Exploring the patent explosion," ESRC Centre for Business Research - Working Papers wp291, ESRC Centre for Business Research.
  4. 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.
  5. 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.
  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, 2010. "The Agglomeration of U.S. Ethnic Inventors," NBER Chapters, in: Agglomeration Economics, pages 237-276 National Bureau of Economic Research, Inc.
  8. William R. Kerr, 2013. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns," NBER Working Papers 19657, National Bureau of Economic Research, Inc.
  9. Nemet, Gregory F., 2012. "Inter-technology knowledge spillovers for energy technologies," Energy Economics, Elsevier, vol. 34(5), pages 1259-1270.
  10. Jérôme Danguy & Gaétan de Rassenfosse & Bruno van Pottelsberghe de la Potterie, 2013. "On the Origins of the Worldwide Surge in Patenting: An Industry Perspective on the R&D-Patent Relationship," Melbourne Institute Working Paper Series wp2013n15, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  11. 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.
  12. William Kerr, 2009. "The Agglomeration of US Ethnic Inventors," NBER Working Papers 15501, National Bureau of Economic Research, Inc.
  13. 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.

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