| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6179 |
| DP6179 Market Liquidity and Funding Liquidity | |
| Markus Brunnermeier; Lasse Heje Pedersen | |
| 发表日期 | 2007-03-16 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | Innovative activities often are heavily regulated. Reviews conducted by administrative agencies take time and are not perfectly accurate. Of particular concern is whether, by design or not, such agencies discriminate against more important innovations by taking more time to perform their reviews. We study the relationship between the length of patent review and the importance of inventions in a theoretical model. We build a simple model of the US patent review process. The model predicts that, controlling for a patent's position in the new technology cycle, more important innovations would (and should) be approved more quickly. Also, the approval delay is likely to decrease as an industry moves from the early stages of an innovation cycle to later stages. These predictions are in line with the evidence we obtain from a data set of US patents granted in the field of genetically modified crops from 1983 to 1999. Our analysis also helps to reconcile the results on the relationship between importance and delay found in previous studies. |
| 主题 | Industrial Organization |
| 关键词 | Genetic modification Innovation Patent policy Regulation |
| URL | https://cepr.org/publications/dp6179 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535021 |
| 推荐引用方式 GB/T 7714 | Markus Brunnermeier,Lasse Heje Pedersen. DP6179 Market Liquidity and Funding Liquidity. 2007. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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