How to count patents and value intellectual property: the uses of patent renewal and application data

Article Abstract:

The economic importance of an innovation may be assessed using patent data. Patents provide information on the characteristics of an invention which may be used by policy makers on deciding which sectors of industry to be given increased support. However, there is much debate on which particular innovations have more significant impact on society. Relying on patent counts is misleading since a greater number of patents filed for a particular innovation is no indication of its greater value. Use of data on patent application and renewal would be a more accurate measure.

Legislative Bodies, Licenses, Patents & Trademarks, Technology Assessment, Analysis, Evaluation, Intellectual property, Technological innovations, Patents, Patent extensions

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Empirical implications of alternative models of firm dynamics

Article Abstract:

Two theoretical firm dynamic models were developed in an attempt to evaluate the idiosyncratic sources of uncertainty and discrete outcomes of firms. The first model, which is based on the concept of Bayesian learning, uses a time-invariant profitability factor while the other, which is based on active exploration principle, treats profitability as a consequence of investment results. Results revealed that the former model is optimal if used to assess manufacturing data while the other is more consistent when applied for retail purposes.

Econometrics & Model Building, Models, Manufacturing industry, Manufacturing industries, Retail industry, Retail trade, Econometrics, Business models

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