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Dynamics between patent latent variables and patent price

Nair, Shyam Sreekumaran and Mathew, Mary and Nag, Dipanjan (2011) Dynamics between patent latent variables and patent price. In: Technovation, 31 (12). pp. 648-654.

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Official URL: http://dx.doi.org/10.1016/j.technovation.2011.07.0...


This paper focuses on studying the relationship between patent latent variables and patent price. From the existing literature, seven patent latent variables, namely age, generality, originality, foreign filings, technology field, forward citations, and backward citations were identified as having an influence on patent value. We used Ocean Tomo's patent auction price data in this study. We transformed the price and the predictor variables (excluding the dummy variables) to its logarithmic value. The OLS estimates revealed that forward citations and foreign filings were positively correlated to price. Both the variables jointly explained 14.79% of the variance in patent pricing. We did not find sufficient evidence to come up with any definite conclusions on the relationship between price and the variables such as age, technology field, generality, backward citations and originality. The Heckman two-stage sample selection model was used to test for selection bias. (C) 2011 Elsevier Ltd. All rights reserved.

Item Type: Journal Article
Publication: Technovation
Publisher: Elsevier Science B.V.
Additional Information: Copyright of this article belongs to Elsevier Science B.V.
Keywords: Patent value;Markets for technology;Patent auction;Patent licensing;Patent citations;Patent latent variables
Department/Centre: Division of Interdisciplinary Sciences > Management Studies
Date Deposited: 27 Jan 2012 06:44
Last Modified: 27 Jan 2012 06:44
URI: http://eprints.iisc.ac.in/id/eprint/43160

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