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Accounting for the recent surge in U.S. patenting: Changes in R&D expenditures, patent yields, and the high tech sector

Author

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  • Gerald Marschke
  • Jinyoung Kim

Abstract

We present a model of how organizations manage performance measures when gaming is revealed over time. The incentive designer does not know when it selects a performance measure whether it will communicate the right behavior. Only over time does the principal find out the agent's responses and then uses this additional information to update and finetune the incentive system. Using data from a government organization, we test the model's main prediction that the correlation between the performance measure and the true goal of the organization should change after the performance measure is included in the incentive system and we find some evidence consistent with this hypothesis.

Suggested Citation

  • Gerald Marschke & Jinyoung Kim, 2002. "Accounting for the recent surge in U.S. patenting: Changes in R&D expenditures, patent yields, and the high tech sector," Discussion Papers 02-10, University at Albany, SUNY, Department of Economics.
  • Handle: RePEc:nya:albaec:02-10
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    References listed on IDEAS

    as
    1. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2000. "Market Value and Patent Citations: A First Look," NBER Working Papers 7741, National Bureau of Economic Research, Inc.
    2. Lanjouw, Jean O & Lerner, Josh, 2001. "Tilting the Table? The Use of Preliminary Injunctions," Journal of Law and Economics, University of Chicago Press, vol. 44(2), pages 573-603, October.
    3. Bronwyn H. Hall & Zvi Griliches & Jerry A. Hausman, 1984. "Patents and R&D: Is There A Lag?," NBER Working Papers 1454, National Bureau of Economic Research, Inc.
    4. Bronwyn H. Hall & Adam B. Jaffe & Manuel Trajtenberg, 2001. "The NBER Patent Citation Data File: Lessons, Insights and Methodological Tools," NBER Working Papers 8498, National Bureau of Economic Research, Inc.
    5. Kortum, Samuel & Lerner, Josh, 1999. "What is behind the recent surge in patenting?1," Research Policy, Elsevier, vol. 28(1), pages 1-22, January.
    6. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)," NBER Working Papers 7552, National Bureau of Economic Research, Inc.
    7. Jaffe, Adam B., 2000. "The U.S. patent system in transition: policy innovation and the innovation process," Research Policy, Elsevier, vol. 29(4-5), pages 531-557, April.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Jinyoung Kim & Sangjoon John Lee & Gerald Marschke, 2009. "International Knowledge Flows: Evidence from an Inventor-Firm Matched Data Set," NBER Chapters,in: Science and Engineering Careers in the United States: An Analysis of Markets and Employment, pages 321-348 National Bureau of Economic Research, Inc.
    2. Battke, Benedikt & Schmidt, Tobias S. & Stollenwerk, Stephan & Hoffmann, Volker H., 2016. "Internal or external spillovers—Which kind of knowledge is more likely to flow within or across technologies," Research Policy, Elsevier, vol. 45(1), pages 27-41.
    3. William R. Kerr, 2010. "The Agglomeration of U.S. Ethnic Inventors," NBER Chapters,in: Agglomeration Economics, pages 237-276 National Bureau of Economic Research, Inc.
    4. William R. Kerr, 2007. "The Ethnic Composition of US Inventors," Harvard Business School Working Papers 08-006, Harvard Business School.
    5. Nemet, Gregory F., 2012. "Inter-technology knowledge spillovers for energy technologies," Energy Economics, Elsevier, vol. 34(5), pages 1259-1270.
    6. Hoenen, Sebastian & Kolympiris, Christos & Schoenmakers, Wilfred & Kalaitzandonakes, Nicholas, 2014. "The diminishing signaling value of patents between early rounds of venture capital financing," Research Policy, Elsevier, vol. 43(6), pages 956-989.
    7. William R Kerr, 2018. "Heterogeneous Technology Diffusion and Ricardian Trade Patterns," World Bank Economic Review, World Bank Group, vol. 32(1), pages 163-182.
    8. Jérôme Danguy & Gaetan de Rassenfosse & Bruno van Pottelsberghe de la Potterie, 2014. "On the origins of the worldwide surge in patenting: an industry perspective on the R&D–patent relationship," Industrial and Corporate Change, Oxford University Press, vol. 23(2), pages 535-572.
    9. Vincent Wenxiong Yao, 2006. "Intra-industry spillovers and innovation: An econometric analysis at the firm level," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 15(2), pages 119-135.
    10. Larry D. Qiu & Huayang Yu, 2010. "Does the Protection of Foreign Intellectual Property Rights Stimulate Innovation in the US?," Review of International Economics, Wiley Blackwell, vol. 18(5), pages 882-895, November.
    11. Frietsch, Rainer & Schubert, Torben & Neuhäusler, Peter, 2017. "Secular trends in innovation and technological change," Studien zum deutschen Innovationssystem 7-2017, Expertenkommission Forschung und Innovation (EFI) - Commission of Experts for Research and Innovation, Berlin.
    12. repec:spr:scient:v:76:y:2008:i:2:d:10.1007_s11192-007-1631-1 is not listed on IDEAS
    13. Carsten Fink & Mosahid Khan & Hao Zhou, 2016. "Exploring the worldwide patent surge," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 25(2), pages 114-142, March.
    14. Bronwyn H. Hall, 2005. "Exploring the Patent Explosion," The Journal of Technology Transfer, Springer, vol. 30(2_2), pages 35-48, January.
    15. Godinho, Manuel Mira & Ferreira, Vítor, 2012. "Analyzing the evidence of an IPR take-off in China and India," Research Policy, Elsevier, vol. 41(3), pages 499-511.
    16. Seong-Sang Lee & Yeonbae Kim, 2009. "The Impact of Efficiency Parameters on Firms Innovative Activities: Evidence from Korean Firm-level data," TEMEP Discussion Papers 200924, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Nov 2009.
    17. Ajay Bhaskarabhatla & Deepak Hegde, 2014. "An Organizational Perspective on Patenting and Open Innovation," Organization Science, INFORMS, vol. 25(6), pages 1744-1763, December.

    More about this item

    Keywords

    Patents; Innovation; Technology; Research Productivity;

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital

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