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Lecture Series: the Bright Side of Patents

Mark Schankerman

Lecture Series: Patent Rights and Innovation: From Evidence to Policy

Prof. Mark Schankerman (London School of Economics) the Ronald Coase Visiting Professor in Law and Economics at the Tilburg Law and Economics Center (TILEC) will give a series of lectures on "Patent Rights and Innovation: From Evidence to Policy". The lectures are open Tilburg University faculty and graduate students.

Mark Schankerman is widely recognized as one of the foremost scholars on the economics of intellectual property, having written extensively on patents, R&D, and productivity, among other things. His work has been published in the leading economics journals, including the American Economic Review, Econometrica, the Journal of Political Economy, the Quarterly Journal of Economics, and the RAND Journal of Economics. He received his Ph.D. from Harvard University and previously held appointments at New York University, the European Bank for Reconstruction and Development, and the World Bank.


This mini-series of lectures is designed to discuss recent empirical papers on five related topics:

1) technology and product market spillovers and their implications;

2) the impact of patents on innovation and knowledge diffusion,

3) the impact of patents on capital market access and the market for technology;

4) the impact of patents on cumulative innovation; and

5) the effectiveness of the patent screening process and its policy implications.

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Lecture 1: Spillovers and their Implications

Tuesday, 26 September 2017

10:45-12:30, Room TZ003

  • Challenges in identifying them
  • Knowledge vs product market spillovers
  • Geographic dimension
  • Spillovers and karma: What goes around come around.

Background papers:

Bloom, Nick, Mark Schankerman, and John Van Reenen, "Identifying

Technology Spillovers and Product Market Rivalry," Econometrica, 81 (2013): 1347-1393

Belenzon, Sharon and Mark Schankerman (2013), "Spreading the Word: Geography, Policy and Knowledge Spillovers," Review of Economics and Statistics, 95(3): 884-903

Belenzon, Sharon (2012), "Cumulative Innovation and Market Value: Evidence from Patent Citations," Economic Journal, 122: 265-285

Lecture 2: The Bright Side of Patents

Monday, 2 October 2017

14:45-16:30, Room TZ003

  • Incentives to innovate
  • Diffusion of technology
  • Access to finance
  • Market for technology

Background papers:

Galasso, Alberto and Mark Schankerman, "Patents Rights, Innovation and Firm Exit," RAND Journal of Economics (forthcoming)

Budish, Eric, Benjamin Roin and Heidi Williams (2015), "Do Firms Underivest in Long-Term Research? Evidence from Cancer Clinical Trials," American Economic Review 105: 2044-2085

Cockburn, Iain, Jean Lanjouw and Mark Schankerman (2016), "Patents and the Global Diffusion of New Drugs," American Economic Review, 106(1): 136-164

Branstetter, Lee, Raymond Fishman and C. Fritz Foley (2006), "Do Stronger Intellectual Property Rights Increase International Technology Transfer? Empirical Evidence from U.S. Firm-level Panel Data," Quarterly Journal of Economics,12(1): 321-349

Alberto Galasso, Mark Schankerman and Carlos Serrano (2013), "Trading and Enforcing Patent Rights,.RAND Journal of Economics, 44(2): 275-312

Farre-Mensa, Joan, Deepak Hedge and Alexander Ljungqvist (2015), "The Bright Side of Patents," NBER Working Paper 21959

Hochberg, Yael, Carlos Serrano and Rosemarie Ziedonis (2014), "Patent Collateral, Investor Commitment and the Market for Venture Lending," NBER Working Paper 20587

Heidi Williams, "How Do Patents Affect Research Investments?" Annual Review of Economics (2017), 9: 441-69 (survey paper)

Lecture 3: The Dark Side of Patents

Tuesday, 10 October 2017

10:45-12:30, Room TZ003

  • Freedom to operate: patent thickets and probabilistic rights
  • Transaction costs, bargaining failure and cumulative innovation
  • Measuring the extent and location of the problem
  • Remedial policies

Background papers:

Alberto Galasso and Mark Schankerman (2015), "Patents and Cumulative Innovation: Causal Evidence from the Courts," Quarterly Journal of Economics, 130(1): 317-369

Furman, Jeffrey and Scott Stern (2011), "Climbing atop the Shoulders of Giants: The Impact of Institutions on Cumulative Research," American Economic Review, 101: 1933-1963

Williams, Heidi (2013), "Intellectual Property Rights and Innovation: Evidence from the Human Genome," Journal of Political Economy, 121: 1-27

Moser, Petra (2012), "Compulsory Licensing: Evidence from the Trading with the Enemy Act" American Economic Review, 102(1): 396-427

Lecture 4: Screening for Patent Quality

Monday, 23 October 2017

14:45-16:30, Room TZ003

  • An integrative perspective on screening
  • Modelling the interactions
  • Simulating the effects of policy reforms

Background papers:

Schankerman, Mark and Florian Schuett (2017), "Screening for Patent Quality: Examination, Fees and the Courts,.CEPR Discussion Paper 11688

Frakes, Michael and Melissa Wasserman (forthcoming), "Is the Time Allocated To Review Patent Applications Inducing Examiners to Grant Invalid Patents? Evidence from Micro-Level Application Data," Review of Economics and Statistics

Lemley, Mark (2001), "Rational Ignorance at the Patent Office," Northwestern University Law Review, 95(4): 1495-1532

Lemley, Mark (2013), "Fixing the Patent Office," in Innovation Policy and the Economy, vol 13, ed. by Josh Lerner and Scott Stern (University of Chicago Press): 83-99

Lemley, Mark and Carl Shapiro (2005), "Probabilistic Patents," Journal of Economic Perspectives, 19(2): 75-98

When: 10 October 2017 10:45

End date: 10 October 2017 12:30