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Julian Boulanger, SSE Print
Friday, 09 November 2018, 12:15 - 13:15

ENTER Seminar 

Julian Boulanger, Stockholm School of Economics

Patents and Follow-On Innovation: Evidence From Patent Renewals

Abstract : Do patents affect follow-on innovation? Using data on patent renewals in the U.S., I investigate this question by studying how the lapse of a patent affects its forward citations. I address the endogeneity of the renewal decision by constructing an instrument based on a large increase in the fees required to maintain patents in force. On average, patents have a strong blocking effect on follow-on innovation. This effect is driven by patents that have to be renewed for the first and, to a lesser extent, the second time. Patents that have to be renewed for the third and final time appear, instead, to facilitate follow-on innovation. Factors that worsen bargaining frictions exacerbate the blocking effect, but have no impact on the facilitating effect. 

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Location: R42.2.113
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