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on Sociology of Economics |
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Issue of 2006‒09‒16
two papers chosen by Jonas Holmstrom Swedish School of Economics and Business Administration |
| By: | James D. Adams; J. Roger Clemmons; Paula E. Stephan |
| Abstract: | In science as well as technology, the diffusion of new ideas influences innovation and productive efficiency. With this as motivation we use citations to scientific papers to measure the diffusion of science through the U.S. economy. To indicate the speed of diffusion we rely primarily on the modal or most frequent lag. Using this measure we find that diffusion between universities as well as between firms and universities takes an average of three years. The lag on science diffusion between firms is 3.3 years, compared with 4.8 years in technology for the same companies using the same methodology. Industrial science diffuses fifty per cent more rapidly than technology, and academic science diffuses still faster. Thus the priority publication system in science appears to distribute information more rapidly than the patent system, although other interpretations are possible. We also find that the speed of science diffusion in the same field varies by a factor of two across industries. The industry variation turns out to be driven by frictional publication lags and firm size in R&D and science. Friction increases the lag, but firm size in R&D and science decrease it. Industries having a lot of R&D or science and composed of fields with little friction exhibit rapid diffusion. Industries where the reverse is true exhibit slow diffusion. |
| JEL: | O3 L3 |
| Date: | 2006–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:11997&r=sog |
| By: | Bulut, Harun; Moschini, GianCarlo |
| Abstract: | In line with the rights and incentives provided by the Bayh-Dole Act of 1980, U.S. universities have increased their involvement in patenting and licensing activities through their own technology transfer offices. Only a few U.S. universities are obtaining large returns, however, whereas others are continuing with these activities despite negligible or negative returns. We assess the U.S. universities’ potential to generate returns from licensing activities by modeling and estimating quantiles of the distribution of net licensing returns conditional on some of their structural characteristics. We find limited prospects for public universities without a medical school everywhere in their distribution. Other groups of universities (private, and public with a medical school) can expect significant but still fairly modest returns only beyond the 0.9th quantile. These findings call into question the appropriateness of the revenue-generating motive for the aggressive rate of patenting and licensing by U.S. universities. |
| Keywords: | Bayh-Dole Act, quantile regression, returns to innovation, skewed distributions, technology transfer, university patents. |
| Date: | 2006–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:isu:genres:12672&r=sog |