R&D and the Patent Premium

Ashish Arora (), Marco Ceccagnoli and Wesley M. Cohen

No 9431, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We analyze the effect of patenting on R&D with a model linking a firm's R&D effort with its decision to patent, recognizing that R&D and patenting affect one another and are both driven by many of the same factors. Using survey data for the U.S. manufacturing sector, we estimate the increment to the value of an innovation realized by patenting it, and then analyze the effect on R&D of changing that premium. Although patent protection is found to provide a positive premium on average in only a few industries, our results also imply that it stimulates R&D across almost all manufacturing industries, with the magnitude of that effect varying substantially.

JEL-codes: O31 O32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dev and nep-ind
Date: 2003-01
Note: PR
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Journal Article: R&D and the patent premium (2008)
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