NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

What is a Patent Worth? Evidence from the U.S. Patent "Lottery"

Joan Farre-Mensa, Deepak Hegde, Alexander Ljungqvist

NBER Working Paper No. 23268
Issued in March 2017

---- Acknowledgements ----

A previous version of this paper was circulated under the title “The Bright Side of Patents.” We are grateful to Emily Blanchard, Lauren Cohen, Wesley Cohen, Matt Fiedler, Lee Fleming, Teresa Fort, Ken French, Alberto Galasso, Bronwyn Hall, Zorina Khan, Josh Lerner, Ross Levine, Alan Marco, Ramana Nanda, Bhaven Sampat, Robert Seamans, Ted Sichelman, Scott Stern, Rick Townsend, Heidi Williams, Rosemarie Ziedonis, and audiences at the NBER Productivity Lunch Seminar, the NBER Summer Institute, and various universities for helpful comments. We also thank the Institute for Exceptional Growth Companies for granting access to the NETS database. Hegde gratefully acknowledges the support of the United States Patent and Trademark Office’s Thomas Alva Edison Visiting Scholars program and the Kauffman Junior Faculty Fellowship. The views and comments expressed herein are solely the opinion of the authors, do not reflect the performance of duties in the authors’ official capacities, and are not endorsed by, nor should be construed as, any viewpoint official or unofficial of the United States Patent and Trademark Office, nor do they necessarily represent the views of the National Bureau of Economic Research. The authors confirm to the best of their knowledge that no information contained herein is privileged, confidential, or classified.

---- Disclosure of Financial Relationships for Alexander Ljungqvist ----

The views and comments expressed herein are solely the opinion of the authors, do not reflect the performance of duties in the authors’ official capacities, and are not endorsed by, nor should be construed as, any viewpoint official or unofficial of the United States Patent and Trademark Office. The authors confirm to the best of their knowledge that no information contained herein is privileged, confidential, or classified.

return to bibliography page

 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us