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Market maturity, patent renewals and the pace of innovation: the case of wind power in Germany

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  • Marc Baudry
  • Béatrice Dumont

Abstract

Our paper aims at exploring the link between market maturity and patent renewal decisions in the wind power sector. We use micro-level data on patent legal status and patent metrics from the Patstat database, as well as data on installed capacities. We estimate a micro-level model of renewal decisions that control for both patent metrics and market maturity. Our results show that renewal decisions are sensitive to market maturity. More specifically, market maturity positively affects the initial rent but increases the depreciation of the rent. JEL Codes: O3, O3, Q55

Suggested Citation

  • Marc Baudry & Béatrice Dumont, 2016. "Market maturity, patent renewals and the pace of innovation: the case of wind power in Germany," Journal of Innovation Economics, De Boeck Université, vol. 0(2), pages 131-150.
  • Handle: RePEc:cai:jiedbu:jie_020_0131
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    Keywords

    patent value; patent duration; diffusion; market maturity; technological innovation;

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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