This paper argues that the ability to keep innovations secret may be a key determinant of patenting. To test this hypothesis, the paper examines a newly-collected data set of more than 7,000 American and British innovations at four world's fairs between 1851 and 1915. Exhibition data show that...

Historical accounts suggest that the arrival of German Jewish émigrés who fled the Nazi regime revolutionized U.S. science and innovation. This paper presents the first systematic analysis of the émigrés' effects on U.S. innovation. Difference-in-differences analyses compare changes in...

Patent pools, which allow competing firms to combine their patents, have emerged as a prominent mechanism to resolve litigation when multiple firms own patents for the same technology. This paper takes advantage of a window of regulatory tolerance under the New Deal to investigate the effects of...