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Citation Frequency and the Value of Patented Innovation

Author

Listed:
  • Vopel, Katrin
  • Scherer, Frederic M.
  • Narin, Francis
  • Harhoff, Dietmar

Abstract

Through a survey, economic value estimates were obtained on 962 inventions made in the United States and Germany and on which German patent renewal fees were paid to full-term expiration in 1995. A search of subsequent U.S. and German patents yielded a count of citations to those patents. Patents renewed to full term were significantly more valuable than patents allowed to expire before their full term. The higher an invention?s economic value estimate was, the more the relevant patent was subsequently cited.

Suggested Citation

  • Vopel, Katrin & Scherer, Frederic M. & Narin, Francis & Harhoff, Dietmar, 1997. "Citation Frequency and the Value of Patented Innovation," ZEW Discussion Papers 97-27, ZEW - Leibniz Centre for European Economic Research.
  • Handle: RePEc:zbw:zewdip:5130
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    References listed on IDEAS

    as
    1. Manuel Trajtenberg, 1990. "A Penny for Your Quotes: Patent Citations and the Value of Innovations," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 172-187, Spring.
    2. Dietmar Harhoff & Frederic M. Scherer & Katrin Vopel, 1997. "Exploring the Tail of Patented Invention Value Distributions," CIG Working Papers FS IV 97-27, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    3. Jean O. Lanjouw & Ariel Pakes & Jonathan Putnam, 1998. "How to Count Patents and Value Intellectual Property: The Uses of Patent Renewal and Application Data," Journal of Industrial Economics, Wiley Blackwell, vol. 46(4), pages 405-432, December.
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    More about this item

    Keywords

    Innovation; Patent; Citation; Count data model;

    JEL classification:

    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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