Patent pools and innovation in substitute technologies—evidence from the 19th‐century sewing machine industry
利用19世纪缝纫机行业的新历史数据，研究发现专利池通过差异化许可费和诉讼风险，将创新引向了技术较差的替代技术。
Patent pools, which combine complementary patents of competing firms, are expected to increase overall welfare but potentially discourage innovation in substitutes for the pool technology. This article exploits a new historical data set on changes in patenting and firm entry for a clearly defined pool technology and substitutes in the 19th‐century sewing machine industry. This analysis reveals a substantial increase in innovation for an—albeit technologically inferior—substitute technology. Historical evidence suggests that the creation of a pool‐diverted innovation toward an inferior substitute technology by creating differential license fees and litigation risks.