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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

Gerald Marschke () and Jinyoung Kim ()

Discussion Papers from University at Albany, SUNY, Department of Economics

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.

Keywords: Patents; Innovation; Technology; Research Productivity (search for similar items in EconPapers)
JEL-codes: O30 O32 O34 (search for similar items in EconPapers)
Date: 2002
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