We model the length of time that it takes for a patent application to be granted by the U.S. Patent and Trademark Office, conditional on the patent actually being awarded eventually. Survival analysis is applied and both the nonparametric Kaplan-Meier and parametric accelerated failure time models are used to analyze the data. We find that the number of claims a patent makes, the number of citations a patent makes, the patent’s technological category, and the type of applicant all have significant effects on the duration that a patent is under consideration. A log-normal survival model is the preferred parametric specification, and the results suggest that the hazard function is non-monotonic over time.
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Paper provided by Department of Economics, University of Victoria in its series Econometrics Working Papers with number
0707.
Length: 23 pages Date of creation: 24 Aug 2007 Date of revision: Handle: RePEc:vic:vicewp:0707
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Find related papers by JEL classification: C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Econometric and Statistical Methods; Specific Distributions C29 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Other C46 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Specific Distributions L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
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