Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality inventions, reliance on science may enhance gains from...

We study the relationships between corporate R&D and three components of public science: knowledge, human capital, and invention. We identify the relationships through firm-specific exposure to changes in federal agency R\&D budgets that are driven by the political composition of congressional...

Estimating the private value of patents is important, yet challenging. By developing a method that uses stock market returns to produce a distribution of patent values (and not just an estimate of the mean of that distribution), Kogan, Papanikolaou, Seru, and Stoffman (2017) (KPSS) opened venues...