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External knowledge sourcing: science, market and the value of patented inventions

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  • Cédric Schneider

    (Department of Economics, Copenhagen Business School, Frederiksberg, Denmark)

Abstract

This paper analyzes the choice between alternative sources of knowledge in patented inventions. Inventors can use scientific and|or market-oriented sources of knowledge. We formally test whether these two types of knowledge acquisition are complementary or substitutable in the value of patented inventions. The results suggest that simultaneous exploitation of different knowledge inputs is 'subadditive' since inventors would have to manage assimilation and integration of disparate items of external knowledge stemming from distant technological contexts. Copyright © 2009 John Wiley & Sons, Ltd.

Suggested Citation

  • Cédric Schneider, 2009. "External knowledge sourcing: science, market and the value of patented inventions," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 30(8), pages 551-560.
  • Handle: RePEc:wly:mgtdec:v:30:y:2009:i:8:p:551-560
    DOI: 10.1002/mde.1474
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    File URL: http://hdl.handle.net/10.1002/mde.1474
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    References listed on IDEAS

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    1. Rebecca Henderson & Adam B. Jaffe & Manuel Trajtenberg, 1998. "Universities As A Source Of Commercial Technology: A Detailed Analysis Of University Patenting, 1965-1988," The Review of Economics and Statistics, MIT Press, vol. 80(1), pages 119-127, February.
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    3. Jaffe, Adam B, 1989. "Real Effects of Academic Research," American Economic Review, American Economic Association, vol. 79(5), pages 957-970, December.
    4. Dietmar Harhoff & Francis Narin & Frederic M. Scherer & Katrin Vopel, 1997. "Citation Frequency and the Value of Patented Innovation," CIG Working Papers FS IV 97-26, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    5. Deng, Yi, 2007. "The effects of patent regime changes: A case study of the European patent office," International Journal of Industrial Organization, Elsevier, vol. 25(1), pages 121-138, February.
    6. Adams, James D, 1990. "Fundamental Stocks of Knowledge and Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 673-702, August.
    7. Cassiman, Bruno & Veugelers, Reinhilde, 2007. "Are external technology sourcing strategies substitutes or complements? The case of embodied versus disembodied technology acquisition," IESE Research Papers D/672, IESE Business School.
    8. Giuri, Paola & Mariani, Myriam, 2007. "Inventors and invention processes in Europe: Results from the PatVal-EU survey," Research Policy, Elsevier, vol. 36(8), pages 1105-1106, October.
    9. Pakes, Ariel S, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," Econometrica, Econometric Society, vol. 54(4), pages 755-784, July.
    10. Susan Athey & Scott Stern, 1998. "An Empirical Framework for Testing Theories About Complimentarity in Organizational Design," NBER Working Papers 6600, National Bureau of Economic Research, Inc.
    11. Schneider, Cédric, 2007. "The Determinants of Patent Applications Outcomes - Does Experience Matter?," MPRA Paper 3359, University Library of Munich, Germany.
    12. Sadao Nagaoka, 2007. "Assessing the R&D Management of a Firm in Terms of Speed and Science Linkage: Evidence from the US Patents," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 16(1), pages 129-156, March.
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    Cited by:

    1. Alessandra Scandura, 2013. "The role of scientific and market knowledge in the inventive process: evidence from a survey of industrial inventors," ERSA conference papers ersa13p128, European Regional Science Association.
    2. n.d., 2015. "The effect of openness to external knowledge sources for innovation on smes’ financial performance," MERCATI E COMPETITIVITÀ, FrancoAngeli Editore, vol. 2015(4), pages 65-86.

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