Science and the Market for Technology
研究了科学在发明中的运用如何促进技术市场发展，发现基于科学的专利更易交易，尤其对新颖专利和小型发明者，从而支持创新劳动分工。
Well-functioning markets for technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing use of science in inventions enhances MFT. Science-based inventions have higher gains from trade and lower transaction costs. This relationship is amplified in equilibrium because science-based inventions are also likely to feature smaller inventors with a greater propensity to trade. Using large-scale data, we show that patents citing science are more likely to be traded, especially for novel patents and for smaller inventors. We conclude that the growing use of science in invention is beneficial by encouraging the expansion of MFT and supporting a division of innovative labor. This paper was accepted by David Simchi-Levi, entrepreneurship and innovation.