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Evaluating inventive activity

The cost of nineteenth-century UK patents and the fallibility of renewal data

Bibliographic Data

ID3368948
AuthorsChristine Macleod (University of Bristol), Jennifer Tann (University of Birmingham), James Andrews (0000-0003-0097-9215), James Andrew (University of Bristol), Jeremy C Stein (University of Bristol), Jeremy Stein
Year2003
Volume56
Issue3
Pages537-562
Publication date2003-08-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Economic History Review (JOURNAL)
Journal identifiersISSN: 0013-0117 • E-ISSN: 1468-0289
PublisherWiley (PUBLISHER • GB)
DOI10.1111/j.1468-0289.2003.00261.x
OpenAlexW2158525998
LanguageEN
Citations received17
References cited16

It has long been recognized that counting patents offers a poor gauge of the extent and value of inventive activity, not least because the quality of patented inventions varies enormously. The Schankerman-Pakes model provides a valuable alternative gauge that utilizes the data from renewal fees which are regularly paid to keep a patent in force. This article suggests, however, that the model's application to nineteenth-century UK patents may underestimate the value of Victorian inventive activity because many patentees lacked the financial resources to implement the rational choice that the model assumes. Focusing on steam-engineering patents, it explores further problems with renewal data and the increasing rate of lapsed applications

Business · Economics · Gauge (firearms) · Quality (philosophy) · Statistics · Value (mathematics) · Historical Economic and Social Studies · History · Intellectual Property and Patents · Italy: Economic History and Contemporary Issues · Mathematics · Philosophy

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Unique citing works17
Citations per year1,13
Citation span2011 - 2026 (16)
Citation velocitycurrent
Highly citedNo
Citation typesNeutral: 17

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