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Patents, Citations and Innovations: Tracing the Links

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  • Manuel Trajtenberg

Abstract

The goal is to tackle anew the main problems encountered in using patent data in economic research, namely, the large variance in the value of patents, and the difficulties in matching patents with economic categories. The first is addressed with the aid of patent citations, the second with computerized search techniques for large databases. The proposed solutions are applied to the case of Computed Tomography (CT) Scanners, a pathbreaking innovation in medical technology. The main findings are that patents weighted by citations are highly correlated with the value of innovations, and that important innovations generate further innovative activity (R&D), and hence bring about down-the-line patents.

Suggested Citation

  • Manuel Trajtenberg, 1987. "Patents, Citations and Innovations: Tracing the Links," NBER Working Papers 2457, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:2457
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    Cited by:

    1. Melissa A. Schilling & Corey C. Phelps, 2007. "Interfirm Collaboration Networks: The Impact of Large-Scale Network Structure on Firm Innovation," Management Science, INFORMS, vol. 53(7), pages 1113-1126, July.
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    3. Johannes van der Pol & Jean-Paul Rameshkoumar, 2021. "A method to reduce false positives in a patent query," Bordeaux Economics Working Papers 2021-05, Bordeaux School of Economics (BSE).
    4. Mary Schoonmaker & Elias Carayannis, 2010. "Assessing the Value of Regional Innovation Networks," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 1(1), pages 48-66, March.
    5. Mingyu Tian & Yiwei Su & Zhong Yang, 2022. "University–industry collaboration and firm innovation: an empirical study of the biopharmaceutical industry," The Journal of Technology Transfer, Springer, vol. 47(5), pages 1488-1505, October.
    6. Changbae Mun & Sejun Yoon & Hyunseok Park, 2019. "Structural decomposition of technological domain using patent co-classification and classification hierarchy," Scientometrics, Springer;Akadémiai Kiadó, vol. 121(2), pages 633-652, November.
    7. C. Gay & C. Le Bas, 2005. "Uses without too many abuses of patent citations or the simple economics of patent citations as a measure of value and flows of knowledge," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(5), pages 333-338.
    8. Wadhwa, Anu & Phelps, Corey & Kotha, Suresh, 2016. "Corporate venture capital portfolios and firm innovation," Journal of Business Venturing, Elsevier, vol. 31(1), pages 95-112.
    9. Christopher L. Benson & Christopher L. Magee, 2013. "A hybrid keyword and patent class methodology for selecting relevant sets of patents for a technological field," Scientometrics, Springer;Akadémiai Kiadó, vol. 96(1), pages 69-82, July.
    10. Mario Benassi & Elena Grinza & Francesco Rentocchini & Laura Rondi, 2022. "Patenting in 4IR technologies and firm performance [Robots and jobs: evidence from US labor markets]," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 31(1), pages 112-136.
    11. Andrea Orame & Daniele Pianeselli, 2023. "Thinking the green transition: evidence from the automotive industry," Questioni di Economia e Finanza (Occasional Papers) 767, Bank of Italy, Economic Research and International Relations Area.
    12. Flor, M. L. & Oltra, M. J., 2004. "Identification of innovating firms through technological innovation indicators: an application to the Spanish ceramic tile industry," Research Policy, Elsevier, vol. 33(2), pages 323-336, March.
    13. Sangyun Han & Soo Kyung Park & Kyu Tae Kwak, 2021. "Workforce Composition of Public R&D and Performance: Evidence from Korean Government-Funded Research Institutes," Sustainability, MDPI, vol. 13(7), pages 1-17, March.
    14. Luo, Jianxi & Triulzi, Giorgio, 2018. "Cyclic dependence, vertical integration, and innovation: The case of Japanese electronics sector in the 1990s," Technological Forecasting and Social Change, Elsevier, vol. 132(C), pages 46-55.
    15. Cui, Jingbo & Li, Xiaogang, "undated". "Innovation and Firm Productivity: Evidence from the US Patent Data," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235603, Agricultural and Applied Economics Association.
    16. Nawab Khan & Haitao Qu & Jing Qu & ChunMiao Wei & Shihao Wang, 2021. "Does Venture Capital Investment Spur Innovation? A Cross-Countries Analysis," SAGE Open, , vol. 11(1), pages 21582440211, March.
    17. Zhongjuan Sun, 2014. "Domestic technological acquisitions and the innovation performance of acquiring firms," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 12(2), pages 149-170, May.
    18. Li, Xiaogang, 2020. "Innovation, market valuations, policy uncertainty and trade: Theory and evidence," ISU General Staff Papers 202001010800009179, Iowa State University, Department of Economics.
    19. Buggenhagen, Magnus & Blind, Knut, 2022. "Development of 5G – Identifying organizations active in publishing, patenting, and standardization," Telecommunications Policy, Elsevier, vol. 46(4).
    20. C. Gay & C. Le Bas & P. Patel & K. Touach, 2005. "The determinants of patent citations: an empirical analysis of French and British patents in the US," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(5), pages 339-350.
    21. Melissa A. Schilling, 2015. "Technology Shocks, Technological Collaboration, and Innovation Outcomes," Organization Science, INFORMS, vol. 26(3), pages 668-686, June.
    22. K. D. Joshi & Lei Chi & Avimanyu Datta & Shu Han, 2010. "Changing the Competitive Landscape: Continuous Innovation Through IT-Enabled Knowledge Capabilities," Information Systems Research, INFORMS, vol. 21(3), pages 472-495, September.

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