Time: 10:00 am- 11:30 am, Oct. 18th, 2024
Speaker: Dongni Zhu
(Shanghai University of Finance and Economics)
Venue: 1F, Wanzhong Building, Langrun Garden, Peking University
Platform: Zoom
Meeting ID: 994 5991 6531
Passcode: inse
Abstract:
The patent system designed as an instrument to stimulate innovation grants temporary monopoly power to successful inventors. This paper measures firms' market power from the patent system from an industry organization prospective. We build a finite dynamic model with firm production and patent renewal decision and estimate markup gain from holding patents. Using patent-level renewal data and firm-level financial statements, our study finds that firms do gain more market power from holding more patents. Specifically, firm markup will increase by 0.003 on average if the number of firm citation stock increases by 1,000, where firm citation stock is the summation of total subsequent citations to firm's active patents.
Speaker:
Dr. Dongni Zhu is an associate professor of economics at Shanghai University of Finance and Economics. She received her PhD in economics from Texas A&M University. Her research interests are in empirical IO, applied microeconomics, and financial economics. Her co-authored paper was published in the American Economic Review.
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