Bronwyn H. Hall

Bronwyn H. Hall
University of California, Berkeley | UCB · Department of Economics

PhD, Stanford University

About

243
Publications
97,705
Reads
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38,936
Citations
Additional affiliations
June 2015 - present
Max Planck Institute for Innovation and Competition
Position
  • Professor
January 2012 - May 2012
Università commerciale Luigi Bocconi
Position
  • Professor
November 2005 - June 2015
Maastricht University
Position
  • Professor
Education
October 1983 - June 1988
Stanford University
Field of study
  • Economics
September 1962 - June 1966
Wellesley College
Field of study
  • Physics

Publications

Publications (243)
Article
Full-text available
This article introduces eleven research articles that connect concepts of technological relatedness and diffusion with the transformation of industrial and innovation systems. These studies focus on the role of knowledge spillovers, regional variations in innova- tion and performance, and the evolution of new technologies, such as green and digital...
Article
We analyse how patent thickets affect entry into patenting. A model of entry into patenting that allows for variation in technological opportunity, technological complexity and the extent of patent thickets is developed and analysed. Using UK data we then show that patent thickets are associated with a reduction of first time patenting in a technol...
Article
We analyze the impact of accession to the regional patent system established by the European Patent Convention (EPC) on 14 countries that acceded between 2000 and 2008. We look at changes in patenting behavior by domestic and foreign applicants at the national patent offices and the European Patent Office (EPO). We find a strong change in patent fi...
Article
Full-text available
This special issue contains a set of papers that examine the interactions between innovation policy, innovation, and firm competitiveness and performance. Using mostly micro and mostly European data, these studies advance our understanding of these interactions, which can be rather complex and depend to some extent on the institutional and regulato...
Article
It is argued by many that one of the benefits of the patent system is that it creates a property right to invention that enables firms to obtain financing for the development of that invention. In this paper, I review the reasons why ownership of knowledge assets might be useful in attracting finance and then survey the empirical evidence on patent...
Article
We develop a forward‐looking profit model to estimate the depreciation rates of business R&D capital. By using U.S. government data between 1987 and 2007, and the newly developed model, we estimate both constant and time‐varying industry‐specific R&D depreciation rates. The results comprise a set of R&D depreciation rates for major U.S. high‐tech i...
Article
We revisit the relationship between market value and innovation in the context of manufacturing firms in a developing country, using data for Indian firms from 2001 through 2010. Surprisingly, we find that financial markets value the R&D investment of Indian firms the same or higher than it values such investment in developed economies such as the...
Article
Full-text available
We use an extended version of the well-established Crepon, Duguet, and Mairesse model [1998. “Research, Innovation and Productivity: An Econometric Analysis at the Firm Level.” Economics of Innovation and New Technology 7 (2): 115–158] to model the relationship between appropriability mechanisms, innovation, and firm-level productivity. We enrich t...
Article
Full-text available
28 U.S.C. § 1400(b) provides that a defendant in a patent case may be sued where the defendant is incorporated or has a regular and established place of business and has infringed the patent. This Court made clear in Fourco Glass Co. v. Transmirra Prods. Corp., 353 U.S. 222, 223 (1957), that those were the only permissible venues for a patent case....
Chapter
Research on patent valuation has become increasingly important in academic and policy circles in the last few decades. In part, this is the outcome of the wide consensus that innovation is a crucial ingredient for growth at various levels. On the other hand, there has also been an overcoming of growth models unilaterally focused on technological-or...
Article
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The relationship between financing constraints, investments in research and development (R&D) and innovative performances has recently attracted renewed attention in the aftermath of a financial crisis that has led to problems of access to the credit on which innovation activities crucially rely. In spite of past developments in the theoretical ana...
Article
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We analyze the patent filing strategies of foreign pharmaceutical companies in Chile distinguishing between "primary" (active ingredient) and "secondary" patents (patents on modified compounds, formulations, dosages, particular medical uses, etc.). There is prior evidence that secondary patents are used by pharmaceutical originator companies in the...
Article
Full-text available
Information about the success of a new technology is usually held asymmetrically between the research and development (R&D)-performing firm and potential lenders and investors. This raises the cost of capital for financing R&D externally, resulting in financing constraints on R&D especially for firms with limited internal resources. Previous litera...
Book
This report analyses whether entry of UK enterprises into patenting in a technology area is affected by patent thickets in the technology area. The aim is to contribute to our understanding of the role of patent thickets as a barrier to entry into new technologies for UK enterprises, in particular small and medium sized enterprises (SMEs). The repo...
Article
A surprisingly small number of innovative firms use the patent system. In the UK, the share of firms patenting among those reporting that they have innovated is about 4%. Survey data from the same firms support the idea that they do not consider patents or other forms of registered IP as important as informal IP for protecting inventions. We show t...
Article
Both Research and Development (R&D) and Information and Communication Technology (ICT) investment have been identified as sources of relative innovation underperformance in Europe vis-à-vis the United States. In this paper we investigate R&D and ICT investment at the firm level in an effort to assess their relative importance and to what extent the...
Article
Full-text available
Recent research on the economics of patents is surveyed. The topics covered include theoretical and empirical evidence on patents as an incentive for innovation, the effectiveness of patents for invention disclosure, patent valuation, and what we know about the design of patent systems. We also look at what is known about some current policy areas,...
Article
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Smart specialisation is a policy concept that has enjoyed a short but very exciting life! Elaborated by a group of academic “experts” in 2008, it very quickly made a significant impact on the policy audience, particularly in Europe. Such a success story in such a short period of time is a perfect example of “policy running ahead of theory”: while s...
Article
Full-text available
We survey the economic literature, both theoretical and empirical, on the choice of intellectual property protection by firms. Our focus is on the tradeoffs between using patents and disclosing versus the use of secrecy, although we also look briefly at the use of other means of formal intellectual property protection.Institutional subscribers to t...
Article
One of the most puzzling findings in the empirical analysis of firms’ patenting behaviour is the low proportion of patenting firms in the population of registered companies. Also, there is evidence suggesting that firms may not patent all patentable inventions and that this behaviour differs across firms within industries and across industries as w...
Article
This paper surveys what we know about the internationalization of business R&D spending. I examine three specific questions about the global changes in R&D activity: First, what is the evidence that R&D is becoming more internationalized (more footloose)? Second, what are the factors that influence the choice of location for R&D? The third question...
Article
Full-text available
What do we know about the relationship between innovation and productivity among firms? The workhorse model of this relationship is presented and the implications of analysis using this model and the usually available data on product and process innovation are derived. The recent empirical evidence on the relationship between innovation and product...
Article
This paper explores the characteristics of 238 patents on 94 “inventions” contributed by major multinational innovators to the “Eco-Patent Commons”, which provides royalty-free access to third parties to patented climate change related innovations. By comparing the pledged patents to other patents in the same technologies or held by the same multin...
Article
Full-text available
By using survey data on a large sample of European patents, we estimate the determinants of a composite indicator of patent value that summarizes information from many indirect indicators commonly employed by the literature. The elasticity of man-months on the value of one patent is small, 4%, while that on the number of patents in the portfolio of...
Article
We review the econometric literature on measuring the returns to R&D. The theoretical frameworks that have been used are outlined, followed by an extensive discussion of measurement and econometric issues that arise when estimating the models. We then provide a series of tables summarizing the major results that have been obtained and conclude with...
Chapter
In the chapters of the book Economics of Innovation, Volume 1, it is clear that this basic understanding of the importance of internally generated economic change for the progress of the economy and the weaknesses of static economic analysis in the face of this phenomenon occupies much of the research in innovation economics. A number of themes com...
Article
Universities' centrality within the public research systems has been increasing over time, as it has their interactions with industry. Such interaction poses two dilemmas. One concerns individual scientists and the potential trade-off between basic research activities and those activities required to successfully develop and commercialize academic...
Article
Full-text available
Global climate change mitigation will require the development and diffusion of a large number and variety of new technologies. How will patent protection affect this process? In this paper we first review the evidence on the role of patents for innovation and international technology transfer in general. The literature suggests that patent protecti...
Article
This paper provides a survey on studies that analyze the macroeconomic effects of intellectual property rights (IPR). The first part of this paper introduces different patent policy instruments and reviews their effects on R&D and economic growth. This part also discusses the distortionary effects and distributional consequences of IPR protection a...
Article
Full-text available
Policy makers in both the USA and Europe are aware of the necessity to stimulate the employment as well as the performance of scientists and engineers. This issue includes a selection of papers on both topics, bringing together labour economists as well as economists who do research on innovation and R&D.
Article
Full-text available
To what extent are new and/or innovative firms fundamentally different from established firms, and therefore require a different form of financing? The theoretical background for this proposition is presented, and the empirical evidence on its importance is reviewed. Owing to the intangible nature of their investment, asymmetric-information and mor...
Article
This paper discusses methods for the harmonization and combination of large-scale patent and trademark datasets with each other and other sources of data. Dictionary- and rule-based approaches to the consolidation of applicant names in patent data are presented and shown to have both benefits and drawbacks in isolation. We combine the two methods a...
Article
Full-text available
We examine the patenting behavior of firms in an industry characterized by rapid technological change and cumulative innovation. Recent survey evidence suggests that semiconductor firms do not rely heavily on patents to appropriate returns to R&D. Yet the propensity of semiconductor firms to patent has risen dramatically since the mid-1980s. We exp...
Article
Full-text available
Evidence on the “funding gap“ for investment innovation is surveyed. The focus is on financial market reasons for underinvestment that exist even when externality-induced underinvestment is absent. We conclude that while small and new innovative firms experience high costs of capital that are only partly mitigated by the presence of venture capital...
Article
This paper provides a survey on studies that analyze the macroeconomic effects of intellectual property rights (IPR). The first part of this paper introduces different patent policy instruments and reviews their effects on R&D and economic growth. This part also discusses the distortionary effects and distributional consequences of IPR protection a...
Article
Innovation in SMEs exhibits some peculiar features that most traditional indicators of innovation activity do not capture. Therefore, in this paper, we develop a structural model of innovation which incorporates information on innovation success from firm surveys along with the usual R&D expenditures and productivity measures. We then apply the mod...
Article
This book develops and illustrates a comprehensive, multi-level framework for the evaluation of industrial R&D activities and the measurement of their performances. The framework encompasses a set of hierarchical, interrelated levels at which R&D evaluation and performance measurement could be undertaken. This enlightening book focuses on the singl...
Article
Full-text available
Evaluations of government Technology Development Funds (TDF) in Argentina, Brazil, Chile and Panama are surveyed. All the evaluations were done at the recipient (firm) level using data from innovation surveys, industrial surveys, and administrative records of the granting units, together with quasi-experimental econometric techniques to minimise th...
Chapter
A patent is the legal right of an inventor to exclude others from making or using a particular invention. This right is sometimes termed an ‘intellectual property right’ and is viewed as an encouragement for innovation. This article gives a brief history of patenting, and discusses the legal and administrative process for obtaining a patent in the...
Article
The National Bureau of Economic Research patent database is a research-friendly compilation of U.S. patent data, with geocoding of information on inventors and assignees, codification of inventor and assignee names, and patent citations. Download the slides at: http://papers.ssrn.com/paper=1027953 Download the audio file at: http://papers.ssrn.com/...
Article
Full-text available
Measuring the private returns to R&D requires knowledge of its private depreciation or obsolescence rate, which is inherently variable and responds to competitive pressure. Nevertheless, most of the previous literature has used a constant depreciation rate to construct R&D capital stocks and measure the returns to R&D, a rate usually equal to 15 pe...
Article
Does R&D have an impact on firm growth, profits, and value? To most observers, the obvious answer is yes. However, the recent report by Booz-Allen-Hamilton (BAH 2006) seems to conclude that the share of spending devoted to research has no relationship to the economic performance of an enterprise, and offers support to the view that it is possible t...
Article
This paper provides novel empirical evidence on the private value of patents and R&D in European firms during the period 1991-2004. We explore the relationship between firm's stock market value, patents, and "quality"-weighted patents issued by the European Patent Office (EPO) and the US Patent and Trademark Office (USPTO). We find that Tobin's q i...
Article
Full-text available
A patent is the legal right of an inventor to exclude others from making or using a particular invention. This right is sometimes termed an ‘intellectual property right’ and is viewed as an incentive for innovation. This article surveys the evidence on patent effectiveness in encouraging innovation and reviews the current controversies in patent po...
Article
Full-text available
The identification of age, cohort (vintage), and period (year) effects in a panel of individuals or other units is an old problem in the social sciences, but one that has not been much studied in the context of measuring researcher productivity. In the context of a semi-parametric model of productivity, where these effects are assumed to enter in a...
Article
Full-text available
We are now going to take questions from the audience for the general discussion portion of today's program. What I would like to do is collect some questions. Please tell the audience who you are and where you come from, and then ask your question. We would like to have two, three, or four questions and then open those to the panel for discussion....
Article
Italian manufacturing firms have been losing ground with respect to many of their European competitors. This paper presents some empirical evidence on the effects of innovation on employment growth and therefore on firms' productivity with the goal of understanding the roots of such poor performance. We use firm level data from the last three surve...
Article
Full-text available
This paper provides a survey on studies that analyze the macroeconomic effects of intellectual property rights (IPR). The first part of this paper introduces different patent policy instruments and reviews their effects on R&D and economic growth. This part also discusses the distortionary effects and distributional consequences of IPR protection a...
Article
Full-text available
Measuring the private returns to R&D requires knowledge of its private depreciation or obsolescence rate, which is inherently variable and responds to competitive pressure. Nevertheless, most of the previous literature has used a constant depreciation rate to construct R&D capital stocks and measure the returns to R&D, a rate usually equal to 15 pe...
Article
ABSTRACT : This paper looks at how well Finland performs in high growth entrepreneurship and uses data from the Global Entrepreneurship monitor to benchmark Finland against other European countries. It is found that Finland’s prevalence rate of high growth entrepreneurial activity lags significantly behind most of its European and all of its Scandi...
Article
We study the production of knowledge when many researchers or inventors are involved, in a setting where tensions can arise between individual public and private contributions. We first show that, without some kind of coordination, production of the public knowledge good (science or research software or database) is sub-optimal. Then we demonstrate...
Article
We investigate the value creation or destruction associated with the introduction of software patents in the United States in two ways. The first looks at the cumulative abnormal returns to Information and Communication Technology (ICT) firms around the time of important court decisions that impacted software patents, and the second analyzes the re...
Article
Full-text available
This introduction to a special issue of EINT surveys a collection of ten papers that study various aspects of innovation and knowledge management and their impact on performance at the firm level for a number of countries. These studies have been conducted using data drawn from innovation surveys combined with data from a number of other sources. T...
Article
Full-text available
Italian manufacturing firms have been losing ground with respect to many of their European competitors. This article presents some empirical evidence on the effects of innovation on employment growth and therefore on firms’ productivity with the goal of understanding the roots of such poor performance. We use firm level data from the last three sur...
Article
'This Festschrift explores the truly exceptional breadth and depth of Paul David's work, focusing upon his contributions to the topics of path dependence, the economics of knowledge, and the diffusion of technology. The book consists of 15 papers plus an introduction by the editors and an entertaining postscript by Dominique Foray. . . For economic...
Article
This paper presents the results of a Monte Carlo study that compares the small sample performance of various unit root tests in short panels using simulated data that mimic the time series and cross sectional properties of commonly used firm level variables. Our conclusion is that in the presence of firm-level heteroskedasticity two methods are pre...
Article
Full-text available
We explore the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge. Using patents and citations for 1963--1995, we estimate Tobin's q equations on the ratios of R&D to assets stocks, patents to R&D, and citations to patents. We fi...
Article
Full-text available
We study the production of knowledge when many researchers or inventors are involved, in a setting where tensions can arise between individual public and private contributions. We first show that without some kind of coordination, production of the public knowledge good (science or research software or database) is sub-optimal. Then we demonstrate...
Article
Full-text available
This paper looks more closely at the sources of patent growth in the United States since 1984. It confirms that the increase is largely due to US patenters, with an earlier surge in Asia, and some increase in Europe. Growth has taken place in all technologies, but not in all industries, being concentrated in the electrical, electronics, computing,...
Chapter
Full-text available
This paper looks more closely at the sources of patent growth in the United States since 1984. It confirms that the increase is largely due to U.S. patenters, with an earlier surge in Asia, and some increase in Europe. Growth has taken place in all technologies, but not in all industries, being concentrated in the electrical, electronics, computing...
Article
Full-text available
[fre] Un indice d'Herfindhal comptant par définition un nombre de parts relatives s'avère biaisé à la baisse dès que ce nombre est trop faible du fait des propriétés statistiques du nombre de données comptées et de l'inégalité de Jensen. Cette note propose une correction simple de ce biais, ainsi qu'une illustration qui applique cette méthode dans...
Article
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and the Western Economic Association annual conference. Useful comments by Pat Bajari (the editor) and an anonymous referee greatly improved the manuscript. We alone are responsible for any errors. Abstract Using a high frequency dataset of advertized prices of personal computers we find that prices of Pentium computer of late entrants into this ma...
Article
Full-text available
This paper asks the question: Can we see evidence of General Purpose Technologies in patent data? Using data on three million US patents granted between 1967 and 1999, and their citations received between 1975 and 2002, we construct a number of measures of GPTs, including generality, number of citations, and patent class growth, for patents themsel...
Article
Full-text available
In this paper, I briefly review the motivations for inventive behavior and describe two common incentive systems that harness and encourage such behavior. This review of well-trodden ground is performed only so that the implications of the rise of the networked knowledge economy for the effectiveness of these incentive systems can be noted. Some th...
Article
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The contribution of new technology to economic growth can only be realized when and if the new technology is widely diffused and used. Diffusion itself results from a series of individual decisions to begin using the new technology, decisions which are often the result of a comparison of the uncertain benefits of the new invention with the uncertai...
Article
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The recent surge in U.S. patenting and expansion of patentable subject matter has increased patent office backlogs and raised concerns that in some cases patents of insufficient quality or with inadequate search of prior art are being issued. At the same time patent litigation and its costs are rising. This paper explores the potential of a post- g...
Article
A small system of German economic variables consisting of the money stock M3, Gross National Product (GNP) and a bond rate is used to illustrate the power of cointegration analysis and the usefulness of some recently developed tools for this kind of analysis. Testing for the cointegrating rank and specifying a VECM, estimating the cointegrating rel...
Article
Full-text available
The recent U.S. experience with the various types of university-industry research relationships is reviewed: the reasons they have increased, the evidence on their performance, and the tensions that have emerged. I argue that the tradeoff between providing incentives for the production of new ideas and information and ensuring that spillovers from...
Article
We study the production of knowledge when many researchers or inventors are involved, in a setting where there tensions can arise between individual public and private contributions. We first show, with the aid of a simple model, that without some kind of co-ordination, production of the public knowledge good (science or research software or databa...
Article
Full-text available
The contribution made by innovation and new technologies to economic growth and welfare is largely determined by the rate and manner by which innovations diffuse throughout the relevant population, but this topic has been a somewhat neglected one in the economics of innovation. This chapter, written for a handbook on innovation, provides a historic...