This paper estimates the effect of a patent grant on the likelihood that an invention will progress to different commercialization stages using survey data on 3,162 inventions which have been the subject of a patent application. We found that about 40 percent of all inventions advanced to the...

In this paper, we estimate the extent of misclassification in patent examination decisions between the EPO and JPO – that is, applications that are incorrectly refused a patent or incorrectly granted a patent. Using a proxy for inventive step as the predictor of the correct decision, we find...

Economists and strategic management theorists interested in sustained competitive advantage often examine firms’ management of knowledge. Somewhat surprisingly, the interaction between knowledge creation and knowledge capture practices has received little attention. Using survey data from...

Although many companies compete through the development of new technologies and products, it is well known that innovation is inherently risky and therefore may increase the ex ante likelihood of both exceptional company performance and bankruptcy. However, existing empirical studies...

Survey data from over 3000 academic scientists shows that nearly half of these scientists report that their choice of research project has been affected (to some degree) by the presence of third-party patents. We test for the relative effects of the costs associated with physically obtaining...

One of the principles enshrined in all international patent treaties is that equal treatment should be provided to inventors regardless of their nationality. Little is known about whether this ‘national treatment’ principle is upheld in practice. We analyze whether patent examination...

The number of research grants awarded to biomedical researchers is found to have a positive effect on their subsequent number of publications and patents but either no effect or a negative effect on the subsequent number of commercial contracts signed. The exception was ‘development grants’...

In contrast with quotas and tariffs, it is theoretically ambiguous whether fewer (or ‘weaker’) rules over intellectual property rights will increase or decrease trade in patentable goods. The prevailing view is that anticipation of imitation reduces exporters’ incentive to export goods to...

Algorithmic stablecoins are inherently fragile. These uncollateralized digital assets, which attempt to peg the price of a reference asset using financial engineering, algorithms, and market incentives, are not stable at all but exist in a state of perpetual vulnerability. Iterations to date...

Blockchain is an exciting technology with great but as yet unfulfilled potential. For competition and competition policy, it offers a number of promising opportunities, which agencies will wish to explore. However, from the standpoint of antitrust law the concerns remain the same. This paper...