Patents, Citations and Innovations: Tracing the Links
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.
|Date of creation:||Dec 1987|
|Date of revision:|
|Publication status:||published as "A Penny for Your Quotes: Patent Citations and the Value of Innovations," The Rand Journal of Economics, Spring 1990, 21(1), 172-187.|
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- Ariel Pakes, 1986.
"Patents as Options: Some Estimates of the Value of Holding European Patent Stocks,"
NBER Working Papers
1340, National Bureau of Economic Research, Inc.
- Pakes, Ariel S, 1986. "Patents as Options: Some Estimates of the Value of Holding European Patent Stocks," Econometrica, Econometric Society, vol. 54(4), pages 755-84, July.
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- Ariel Pakes & Mark Schankerman, 1979.
"The Rate of Obsolescence Of Knowledge, Research Gestation Lags, and the Private Rate of Return to Research Resources,"
NBER Working Papers
0346, National Bureau of Economic Research, Inc.
- Pakes, Ariel & Schankerman, Mark A., 1978. "The Rate of Obsolescence of Knowledge, Research Gestation Labs, and the Private Rate of Return to Research Resources," Working Papers 78-13, C.V. Starr Center for Applied Economics, New York University.
- Mansfield, Edwin, et al, 1977. "Social and Private Rates of Return from Industrial Innovations," The Quarterly Journal of Economics, MIT Press, vol. 91(2), pages 221-40, May.
- Frederic Scherer, 1984. "Using Linked Patent and R&D Data to Measure Interindustry Technology Flows," NBER Chapters, in: R&D, Patents, and Productivity, pages 417-464 National Bureau of Economic Research, Inc.
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