ESTIMATING THE GAINS FROM TRADE IN THE MARKET FOR PATENT RIGHTS
建立并估计了一个专利转让与续期模型，量化专利从原持有人转移到更高价值新所有者带来的私人收益，并研究降低交易成本对专利交易比例和贸易收益的影响。
Abstract The “market for patents”—the sale of patents—is an often discussed source of incentives to invest in R&D. This article presents and estimates a model of the transfer and renewal of patents that, under some assumptions, allows me to quantify the gains resulting from the transfer of patents. The gains from trade measure the private benefits of reallocating the ownership of a patent from the original patentee to a new owner for whom the patent has a higher value. In addition, I study the effect that lowering transaction costs has on the proportion of patents traded and the gains from trade.