Patent pools allow competing firms to combine their patents and license them as a package to outside firms. Regulators today favor pools that license their patents freely to outside firms, making it difficult to observe the unconstrained licensing strategies of patent pools. This paper takes...

In 1996, the chemical firm Monsanto bought a plant breeder that had developed a new corn hybrid, which could withstand Monsanto’s powerful herbicide Roundup. Due to the pre-existing structure of the US plant-breeding industry, this acquisition and Monsanto’s acquisition of five other corn...

Count data regressions are an important tool for empirical analyses ranging from analyses of patent counts to measures of health and unemployment. Along with negative binomial, Poisson panel regressions are a preferred method of analysis because the Poisson conditional fixed effects maximum...

Count data regressions are an important tool for empirical analyses ranging from analyses of patent counts to measures of health and unemployment. Along with negative binomial, Poisson panel regressions are a preferred method of analysis because the Poisson conditional fixed effects maximum...

Count data regressions are an important tool for empirical analyses ranging from analyses of patent counts to measures of health and unemployment. Along with negative binomial, Poisson panel regressions are a preferred method of analysis because the Poisson conditional fixed effects maximum...

This paper uses historical patent citation data to test whether electricity, as the canonical example of a General Purpose Technology (GPT), matches the current citations-based criteria of GPTs. We use a sample of 1,867 American patents assigned to publicly traded companies in the 1920s and...

Prizes have become a prominent alternative to patents as a mechanism to encourage innovation. This paper exploits the selection of prize-winning technologies among exhibitors at the 1851 Crystal Palace Exhibition in London in 1851 to examine whether – and how – prizes may encourage...