Quantitative determination of technological improvement from patent data.
The results in this paper establish that information contained in patents in a technological domain is strongly correlated with the rate of technological progress in that domain. The importance of patents in a domain, the recency of patents in a domain and the immediacy of patents in a domain are al...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2015-01-01
|
| Series: | PLoS ONE |
| Online Access: | http://europepmc.org/articles/PMC4398537?pdf=render |
| _version_ | 1818153427529629696 |
|---|---|
| author | Christopher L Benson Christopher L Magee |
| author_facet | Christopher L Benson Christopher L Magee |
| author_sort | Christopher L Benson |
| collection | DOAJ |
| description | The results in this paper establish that information contained in patents in a technological domain is strongly correlated with the rate of technological progress in that domain. The importance of patents in a domain, the recency of patents in a domain and the immediacy of patents in a domain are all strongly correlated with increases in the rate of performance improvement in the domain of interest. A patent metric that combines both importance and immediacy is not only highly correlated (r = 0.76, p = 2.6*10(-6)) with the performance improvement rate but the correlation is also very robust to domain selection and appears to have good predictive power for more than ten years into the future. Linear regressions with all three causal concepts indicate realistic value in practical use to estimate the important performance improvement rate of a technological domain. |
| first_indexed | 2024-12-11T14:10:27Z |
| format | Article |
| id | doaj.art-60ea69854fbf42499b98a5c06f994720 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-12-11T14:10:27Z |
| publishDate | 2015-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-60ea69854fbf42499b98a5c06f9947202022-12-22T01:03:26ZengPublic Library of Science (PLoS)PLoS ONE1932-62032015-01-01104e012163510.1371/journal.pone.0121635Quantitative determination of technological improvement from patent data.Christopher L BensonChristopher L MageeThe results in this paper establish that information contained in patents in a technological domain is strongly correlated with the rate of technological progress in that domain. The importance of patents in a domain, the recency of patents in a domain and the immediacy of patents in a domain are all strongly correlated with increases in the rate of performance improvement in the domain of interest. A patent metric that combines both importance and immediacy is not only highly correlated (r = 0.76, p = 2.6*10(-6)) with the performance improvement rate but the correlation is also very robust to domain selection and appears to have good predictive power for more than ten years into the future. Linear regressions with all three causal concepts indicate realistic value in practical use to estimate the important performance improvement rate of a technological domain.http://europepmc.org/articles/PMC4398537?pdf=render |
| spellingShingle | Christopher L Benson Christopher L Magee Quantitative determination of technological improvement from patent data. PLoS ONE |
| title | Quantitative determination of technological improvement from patent data. |
| title_full | Quantitative determination of technological improvement from patent data. |
| title_fullStr | Quantitative determination of technological improvement from patent data. |
| title_full_unstemmed | Quantitative determination of technological improvement from patent data. |
| title_short | Quantitative determination of technological improvement from patent data. |
| title_sort | quantitative determination of technological improvement from patent data |
| url | http://europepmc.org/articles/PMC4398537?pdf=render |
| work_keys_str_mv | AT christopherlbenson quantitativedeterminationoftechnologicalimprovementfrompatentdata AT christopherlmagee quantitativedeterminationoftechnologicalimprovementfrompatentdata |