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Estimating the Gains from Trade in the Market for Innovation: Evidence from the Transfer of Patents

  • Carlos J. Serrano

The "market for innovation" -- the sale and licensing of patents -- is an often discussed source of incentives to invest in R&D. This article presents and estimates a model of the transfer and renewal of patents that, under some assumptions, allows us to quantify the gains resulting from the transfer of patents in the market for innovation. The gains from trade measure the benefits of reallocating the ownership of a patent from the original inventor to a new owner for whom the patent has a higher value. In addition, we study the effect that lowering the costs of technology transfer has on the proportion of patents traded and the gains from trade.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 17304.

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Date of creation: Aug 2011
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Handle: RePEc:nbr:nberwo:17304
Note: IO PR
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  1. Deng, Yi, 2005. "Private Value of European Patents," Departmental Working Papers 0513, Southern Methodist University, Department of Economics.
  2. Dietmar Harhoff & Francis Narin & F. M. Scherer & Katrin Vopel, 1999. "Citation Frequency And The Value Of Patented Inventions," The Review of Economics and Statistics, MIT Press, vol. 81(3), pages 511-515, August.
  3. Naomi R. Lamoreaux & Kenneth L. Sokoloff, 1999. "Inventive Activity and the Market for Technology in the United States, 1840-1920," NBER Working Papers 7107, National Bureau of Economic Research, Inc.
  4. Hall, Bronwyn H & Jaffe, Adam B & Trajtenberg, Manuel, 2001. "The NBER Patent Citations Data File: Lessons, Insights and Methodological Tools," CEPR Discussion Papers 3094, C.E.P.R. Discussion Papers.
  5. Marshall Reinsdorf & Matthew J. Slaughter, 2009. "International Trade in Services and Intangibles in the Era of Globalization," NBER Books, National Bureau of Economic Research, Inc, number rein09-1, December.
  6. Goffe, William L. & Ferrier, Gary D. & Rogers, John, 1994. "Global optimization of statistical functions with simulated annealing," Journal of Econometrics, Elsevier, vol. 60(1-2), pages 65-99.
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