Estimates of the Value of Patent Rights in European Countries During thePost-1950 Period
This paper examines the distribution of the values of patent rights in the United Kingdom, France, and Germany during the post-1950 period. These values are inferred from the behavior of patentees with respect to payment of renewal fees on their patents. A simple economic model of renewal decisions is combined with data on the proportion of patents renewed at alternative ages and the renewal fee schedules to produce estimates of the distribution (and the total) value of patent rights in these countries. Moreover, the data indicate that there have been changes in the value distribution, and we follow these changes over the period. The empirical results of particular interest concern: the total value of patent rights and the relationship between changes in it and changes in the quantity of patents, the skew in the distribution of patent values, and the rate of obsolescence on the returns to patents.
|Date of creation:||Jun 1985|
|Publication status:||published as Schankerman, Mark and Ariel Pakes. "Estimates of the Value of Patent Rightsin European Countries During the Post-1950 Period," Economic Journal, Vol. 96, (December 1986), pp. 1052-1076.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- Mansfield, Edwin & Schwartz, Mark & Wagner, Samuel, 1981. "Imitation Costs and Patents: An Empirical Study," Economic Journal, Royal Economic Society, vol. 91(364), pages 907-918, December.
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- Pakes, Ariel, 1985. "On Patents, R&D, and the Stock Market Rate of Return," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 390-409, April.
- Pakes, Ariel, 1985. "On Patents, R & D, and the Stock Market Rate of Return," Scholarly Articles 3436409, Harvard University Department of Economics.
- Amemiya, Takeshi, 1981. "Qualitative Response Models: A Survey," Journal of Economic Literature, American Economic Association, vol. 19(4), pages 1483-1536, December. Full references (including those not matched with items on IDEAS)
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