Progress 02/02/17 to 09/30/21
Outputs
Target Audience:Target Audience Farmers Farm input providers Food consumers Food manufacturers Consumers vulnerable to food insecurity Research Scientists and research administrators Private sector innovators interested in agriculture and natural resources Land Grant University technology transfer managers and personnel Undergraduate and graduate students Agricultural and resource economists Land use managers including forest managers Changes/Problems:COVID -19 affected ability to attend conferences inoperswon, and postponed or caq=ncelled some conferences. It also hindered across-university collabopration. What opportunities for training and professional development has the project provided?Wright has continued to supervise doctoral candidate Ms. Wenjun Wang in her work on the prediction of innovation value using information available in patent applications. How have the results been disseminated to communities of interest?Brian D.Wright. Comment on "Sheep in Wolves' Clothing: Using False Signals of Demand to Execute a Market Power Manipulation" by Craig Pirrong.JPMorgan Commodity Center; International Commodities Symposium August 16, 2021 (by Zoom) Brian D.Wright. "Comments on Alston and Pardey: 'Innovation, Growth and Structural Change in American Agriculture' " NBER Research Symposium Beyond 140 Characters: The Role of Innovation and Entrepreneurship in Economic Growth. January 3, 2020 Brian D. Wright "Comments on Alston and Pardey: Innovation, Growth and Structural Change in American Agriculture" NBER Research Symposium Beyond 140 Characters: The Role of Innovation and Entrepreneurship in Economic Growth. January 3, 2020 Ernesto Guerra, Eugenio Bobenrieth, Juan Bobenrieth and BrianWright"Solving Dynamic Models with Constraints on Accumulation" (Presenter via Zoom): Eugenio Bobenrieth) CEMA Commodity and Energy Markets Conference 2020-2021 17-18 June 2021 - Universidad Carlos III , Madrid, Spain. Brian D.Wright "Biofuels: Misdirected Innovation and Institutional Capture." Energy Finance Italia Annual Workshop, fifth edition (EFI5) University of Roma Tre. Rome, Italy. February 10 - 11, 2020. What do you plan to do during the next reporting period to accomplish the goals?
Nothing Reported
Impacts
What was accomplished under these goals?
Goal 1: With ex-students Eugenio Bobenrieth, Ernesto Guerra and Di Zeng, as well as Juan Bobenrieth, Wright completed work on an empirical model of dynamic commodity price behavior with competitive storage. The parameters of the nonlinear model are estimated on prices with trends induced by secular increases in crop productivity in a familiar two-step approach to estimation with trending data. The induced price trend is estimated in a preliminary step. In a second step, the other key parameters are estimated by nonlinear least squares. After proving the consistency of this approach, they estimate the model on cotton and maize price data. This paper was published in the American Journal of Agricultural Economics in November 2020. Ongoing work on this type of model by Wright with Eugenio and Juan Bobenrieth and Ernesto Guerra establishes a way to estimate the model on trending data without prior detrending, and prove consistency of a simple estimation procedure. They show that the trend estimated in this way differs from the trend estimated in a preliminary step, as in the previous paper, mentioned immediately above. Indeed, estimated on a cotton price series, the difference in trend, estimated along with other parameters on trending data in asingle step, appears to be quite important. Detrended prices have a significantly different density using the trend estimated in one step, along with the other parameters. Goal 3 With Siwei Cao and Zhen Lei, Wright worked on an empirical study of predictable differences in the flow of value from patented innovations, making use of a set of US patents related to earlier patents of two different types (one granted much faster than the other but with shorter life) received in China. This paper casts doubt on "option value" estimates of patent value based on patent renewal payments at 4, 8 and 1w years from grant. With Zhen Sun, Wright completed a study of early citations to patent applications and what they can tell us about the examination process including determination of validity,and the predicted value of the cited inventions. Examiners' instructions from the US Patent Office and academic studies on patent validity determination focus on identification of "blocking" citations that invalidate claims in applications as non-novel or obvious, generally ignoring the non-blocking majority as irrelevant to validity. Recently available datasets allow us to identify, for the first time, "forward" citations received by applications before grant, as well as "backward" citations in those applications, and distinguish those identified by the examiner as blocking (submitted mainly by examiners), as well as non-blocking examiner and applicant citations. Our econometric analysis confirms that blocking citations in an application strongly negatively predict its grant, but positively predict grant of the cited blocking applications. Non-blocking applicant and examiner citations in an application equally strongly predict its grant, but do not predict grant of cited applications. We test whether expected value - measured by applicant forward citations to the application prior to its grant - affects probability of grant, with negative results. These findings expand our understanding of examiners' and applicants' roles as mediators of validity-relevant information in applications for patents on inventions. Goal 6: Guerra and Juan Bobenrieth and Wright completed work with particular relevance for developing models for assessing water projects for irrigation. Non-negativity and capacity constraints on accumulation, and/or price floors affect the dynamics of markets for these commodities. Particularly relevant for response to climate change, in dams used for irrigation, stored water is constrained to be non-negative, and also has fixed total storage related to the height of the dam wall. We were able to provide sufficient conditions for non-convergence and sufficient conditions for convergence of a solution algorithm widely used to solve and characterize such dynamic models, and this solution is fast if it converges. Our results will be useful for policy evaluation based on structural econometric estimation of dynamic stochastic models involving large numbers of solutions. Publications related to this work will be reported next year.
Publications
- Type:
Journal Articles
Status:
Published
Year Published:
2021
Citation:
Sun, Z., Z. Lei, B.D. Wright, M. Cohen and T. Liu. 2021. Government targets, end-of-year patenting rush and innovative performance in China. Nature Biotechnology 39, September 9. 10681075. https://rdcu.be/cxs3F
- Type:
Journal Articles
Status:
Published
Year Published:
2020
Citation:
Bobenrieth, Eugenio S.A., J. R.A. Bobenrieth, E. Guerra, B.D. Wright. and D. Zeng. 2020.
Putting the empirical commodity storage model back on track: Crucial
implications of a negligible trend. American Journal of Agricultural Economics November.
|
Progress 10/01/19 to 09/30/20
Outputs
Target Audience:Agricultural economists, agribusiness. economists, farmers, political decision makers, agricultural investors, agricultural researchers including agronomists, agricultural geneticists and biologists, agricultural economics students in training. Changes/Problems:COVID-19 has prevented me from making several conference keynote presentations, and hindered to some extent my collaborations with colleafgues at other universities. What opportunities for training and professional development has the project provided?Wright has supoervised doctoral candidate Ms. Wenjun Wang in her work on the prediction of innovation value using information available inpatent applications. She passed her oral qualifying exam under his supervision and is now advanced to candidacy. How have the results been disseminated to communities of interest?B. Wright Presentation. "Comments on Papers: Studying Innovation in Agriculture - New Data and Tools" ASSA Meetings, San Diego CA 2010, January 3, 2020 Presentation B. Wright. "Comments on Alston and Pardey: 'Innovation, Growth and Structural Change in American Agriculture.' " NBER Research Symposium "Beyond 140 Characters: The Role of Innovation and Entrepreneurship in Economic Growth," Mountain View, CA, January 3, 2020 Presentation B. Wright "The Economics of Biofuels Policies" Energy Finance Italia Annual Workshop, fifth edition (EFI5) University of Roma Tre, Rome, Italy. February 10 - 11, 2020. Presentation B Wright "Beyond blocking: An empirical re-conception of the signals in citations and their influence on patent examination." 10th Asia-Pacific Innovation Conference (APIC) School of Economics at Peking University October 10-11, 2019 @font-face { panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:0; mso-generic- mso-font-pitch:variable; mso-font-signature:-536870145 1107305727 0 0 415 0;}@font-face { panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic- mso-font-pitch:variable; mso-font-signature:-536859905 -1073732485 9 0 511 0;}p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:""; margin:0in; text-indent:.5in; line-height:200%; mso-pagination:widow-orphan; ; mso-fareast- mso-fareast-theme-font:minor-latin; mso-bidi- mso-bidi-theme-font:minor-bidi;}p {mso-style-noshow:yes; mso-style-priority:99; mso-margin-top-alt:auto; margin-right:0in; mso-margin-bottom-alt:auto; margin-left:0in; mso-pagination:widow-orphan; ; mso-fareast-}.MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; mso-fareast- mso-fareast-theme-font:minor-latin; mso-bidi- mso-bidi-theme-font:minor-bidi;}.MsoPapDefault {mso-style-type:export-only; text-indent:.5in; line-height:200%;}div.WordSection1 {page:WordSection1;} What do you plan to do during the next reporting period to accomplish the goals?In the next reporting period I shall pursue the ongoing work reported above and other projects related to trends, price volatility and agriculture. and natural resources.
Impacts
What was accomplished under these goals?
Goals from Brian Wright: Goal 1. An important consequence of agricultural innovation is its effect on trends in commodity prices, which affect the welfare of producers and consumers. While the challenge of estimation of the empirical relation between innovation and yield trends has been a long-term area of research in agricultural economics, the even greater challenge of empirically linking innovation-induced yield trends to price changes has been relatively neglected. One reason for this is that meeting this challenge requires advances in econometric theory and in implementation, in a model that recognizes that storage moderates the effects of yield trends on price behavior. With Juan Bobenrieth and Eugenio Bobenrieth (ex-student and long term collaborator) and ex-student Dr. Ernesto Guerra, Wright made progress on a study of the effects of a seculartrend induced by technical progress in the form of crop yield increases on the behavior of the price of a storable commodity. Their work shows that a small trend can make very nonlinear price dynamics appear to be best represented as a linear relation between current log price level and the expected change in the next year - that is, a small trend can make a nonlinear model of price dynamics, in which price behavior follows two different regimes in times of plenty and times of scarcity, appear to always follow a unit root process. They produced a paper on two-step estimation of key parameters of this model using commodity prices, following a common practice of dealing with trends by detrending in a prior step. They prove consistency of their estimates, with or without trends. They estimate the model on samples of United States cotton and maize prices. This paper was submitted for publication and its publication will be reported in next year's report. One problem with the above paper is that the two step procedure ignores interactions between the trend and other parameters, and precludes calculation of asymptotic standard errors as indicators of the precision of the estimates of the parameters. In an extension of this work they develop the technology to estimate parameters of the nonlinear model in a single step using prices with trends induced by secular yield increases, rather than in a two-step process, detrending in a preliminary step. This allows estimation of asymptotic standard errors. Goal 2. Identifying fast and slow-payoff technologies is important for R&D policy. With Siwei Cao and Zhen Lei, Wright completed worked on an empirical study of predictable differences in the flow of value from patented innovations. Using a set of US patents related to Chinese patents of two different types (one granted much faster than the other but with shorter life)received in China, We used the prior Chinese choices to identify sets of inventions with very high early value flows (measured by citations), many of which have low or zero later value indicated by decisions on renewal payments at 4,8 and 12 years. There is an inconsistency between citations and renewals as measures of value flows. The focus of this work has shifted from option value to characterization of fast and slow technologies and the use of citations and renewals as value proxies. The differences in the speed and duration of value flows appear to be substantial even after controlling for narrow technical fields. With Zhen Sun, Wright continued work on a study of early citations to patent applications and what they can tell us about the examination process including determination of validity,and the predicted value of the cited inventions. In an extension of this work, with graduate student Wenjun Wang Wright is relating measures of patent value from stock market responses to grant to information on predicted value from information revealed after application publication. Goals from David Zilberman: Goal 1: Waterfield, Kaplan, and Zilberman (2020) develop a framework to assess the social acceptance of a controversial technology, and apply it to genetically modified agricultural products. The investigated the factors that affect individuals' decision to vote to ban GMOs and to label them and the factors that affect their willingness to pay a premium to avoid GMO products. They found that about 50% of the population is not willing to pay extra to avoid GMO, and these same people wouldn't vote to ban GMO and usually wouldn't vote to label GMO products. The likelihood of voting to ban or label GMO is increasing in the willingness to pay to avoid these products. Those with strong environmental preferences, parents of young children, and more educated people are more likely to vote to ban or label GMO products. Labeling gains slightly more than 50% support, but banning has much less support. Goal 2:Economists have investigated.
Publications
- Type:
Books
Status:
Awaiting Publication
Year Published:
2020
Citation:
Martin, P.L., R. E. Goodhue and B.D. Wright, Eds. 2020. California Agriculture, Dimensions and Issues. Giannini Foundation 20-01.
- Type:
Journal Articles
Status:
Published
Year Published:
2020
Citation:
Heiman, Amir, Joel Ferguson, and David Zilberman. "Marketing and Technology Adoption and Diffusion." Applied Economic Perspectives and Policy 42, no. 1 (2020): 21-30.
- Type:
Journal Articles
Status:
Published
Year Published:
2020
Citation:
Waterfield, Gina, Scott Kaplan, and David Zilberman. "Willingness to pay versus willingness to vote: consumer and voter avoidance of genetically modified foods." American Journal of Agricultural Economics 102, no. 2 (2020): 505-524.
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Progress 10/01/18 to 09/30/19
Outputs
Target Audience:Agricultural economists, agribusiness. economists, farmerszpolitical decision makers, agricultural investors, agriocultural researchers including agronomists, geneticists and biologists Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided?Wright served as Dissertation Chair of advisee Ernesto Guerra, a doctoral candidate in Agricultural and Resource Economicsat UC Berkeley. Ernesto completed a dissertation including two studies of numerical challenges associated with solving dynamic stochastic models of accumulation, such as models of grain markets recognizing storage activity. The research introduced both Trilnick and Holland, a graduate student and post-doctoral researchers at the college of natural resources to the issues related to bio-technology. It also was a dissertation research of Liang Yu. How have the results been disseminated to communities of interest?Wright presented his work on intellectual property rights and citations at the NC1034 meeting in Atlanta July 21_22 2019. He also presented related work at the APIC conference New Delhi India in 2019. The result of the study of OTT presented at several conferences, including one at the headquarters of the university of California for managers of office of technology transfer. The paper on supply chain was presented by a conference by the World Bank on innovation technology in developing countries and was a key element in a workshop at the University of California, Berkeley on April 14th ,2018. What do you plan to do during the next reporting period to accomplish the goals?Finish two papers on Intellectual property rights and submit for publication. Finish a paper on estiomation of commodity markets with productivity-related trends and submit to a leading journal in agricultural economics.
Impacts
What was accomplished under these goals?
Goal 1. In a paper developing an empirical methodology for estimating the behavioor of commodity markets withstorage and trending productivity, Wright and co-authors offered an empirical model of dynamic commodity price behavior in which the parameters of the nonlinear model are estimated on trending data, in a two-step procedure, detrending in a preliminary step. Goal 2.The literature survey of Zilberman, Holland, and Trilnick find that adoption transgenic bio technologies in agriculture tend to increase yield, reduce cost, and reduce land and environmental benefits of agriculture. The benefit of these technologies are shared between innovators, farmers and consumers, and the benefit to consumers tend to increase over time and adoption increases. The developing countries are likely to greatly benefit from these technologies and heavy regulation of the technologies is a main barrier for adoption. Goal 3. Zilberman, Lu, and Reardon suggest that implementation of technological innovations require frequently to establish supply chains to commercialize technologies resulting from innovation. The innovation creates new markets for input and outputs and the innovators design the supply chain that will reward them through monopoly profits. The size of the supply chain, and its structure, in particular the extent that it's vertically integrated or relies on contracts with suppliers depend on the relative capabilities of the innovators, their credit and their risk preferences. Innovations may be introduced first in one region and then the supply chain will expand it to multiple regions, where likely adoption will be key to derive the location of expansion of the supply chain. Goal 4. With Kyriakos Drivas and Zhen Lei, Wright completed and published study comparing the effects of two functions of the patentsystem -application publication and confirmation of grant -on licensing of academic inventions. After the year 2000, US patent applications have been published eighteen months after filing, rather than later, at grant. They fouindnd that early publicationsignificantly increases the license hazard for exclusively licensed patents, and for inventions in the larger of the two majortechnology groups that we study (chemical, drugs and medical), implying an informational role of publication additional to thatof academic publication. Patent grant has a generally insignificant effect on licensing hazard, consistent with efficient contingent pre-grant contracting, which significantly accelerates transfer in important technology fields. Goal 5. Castillo et.al analyzed the spread of offices of technology transfer in the US. They find that the number of innovation disclosure increase with research budget and research earnings, and is larger for universities of early adopters of offices technology transfer. They also find that the number of institutions that establish an offices of technology transfer is an S-shape function of time. Universities with higher research incomes and rankings were earlier adopters of the office technology transfer and that universities with medical schools were generally late adopters. The speed of adoption of office technology transfer is increasing the larger the number of universities who have already established office technology transfer.
Publications
- Type:
Journal Articles
Status:
Published
Year Published:
2018
Citation:
Drivas, K., Lei, Z, and Brian D. Wright. 2018 Application publication or confirmation of grant: Which matters more for academic technology transfer? International Journal of Industrial Organization, 56 (January): 204-228,
doi.org/10.1016/j.ijindorg.2017.10.005
- Type:
Journal Articles
Status:
Published
Year Published:
2019
Citation:
Zilberman, David, Liang Lu, and Thomas Reardon. "Innovation-induced food supply chain design." Food Policy 83 (2019): 289-297.
- Type:
Journal Articles
Status:
Published
Year Published:
2018
Citation:
Zilberman, David, Tim G. Holland, and Itai Trilnick. "Agricultural GMOswhat we know and where scientists disagree." Sustainability 10, no. 5 (2018): 1514.
- Type:
Journal Articles
Status:
Published
Year Published:
2018
Citation:
Castillo, Federico, J. Keith Gilless, Amir Heiman, and David Zilberman. "
Time of adoption and intensity of technology transfer: an institutional analysis of offices of technology transfer in the United States." The Journal of Technology Transfer 43, no. 1 (2018): 120-138.
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Progress 10/01/17 to 09/30/18
Outputs
Target Audience:Agricultural economists, agribusiness, economists, farmers, political decision makers, agricultural investors, agricultural researchers including agronomists, geneticists, biologists, lawyers Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided?Wright served as Dissertation Chair of advisee Ernesto Guerra, a doctoral candidate in Agricultural and Resource Economics at UC Berkeley. Ernesto completed a dissertation including a study of numerical challenges associated with solving dynamic stochastic models of accumulation, such as models of grain markets recognizing storage activity and a chapter on storage behavior with capacity constraints. Another chapter addresses the important but neglected issue of the best data to use when estimating the annual behavior of commodity markets. He finds that for Maize, annual average data are unsatisfactory - averaging induces high autocorrelation. The best month for representing annual price movements appears to be December for maize. Eugenio is will graduate soon and return to work in agricultural economics in Chile. How have the results been disseminated to communities of interest?Wright presented his work referenced above at the APIC meeting in New Zealand November 30, 2017, and at the PATCON conference in San Diego. What do you plan to do during the next reporting period to accomplish the goals?Work with Zhen Sun on a paper on the role of applicant and examiner citations as predictors of patent value. Work with Zhen Lei and Siwei Cao on a paper on distinguishing dynamic profiles of value flows from sets of US patens distinguished by the choice of type of prior patent on the same invention in China, where two different types of inventions (one with faster grant but shorter life) are allowed.
Impacts
What was accomplished under these goals?
The published study with ex-students Lei and Drivas showed that publication of a patent application before grant has a much larger effect on University licensing of the patented technology than does the subsequent grant of the application. This shows how a change in patent law in the year 2000 increased the speed of transfer and adoption of technology from the University of California to the private sector. With Siwei Cao and Zhen Lei, Wright worked on an empirical study of predictable differences in the flow of value from patented innovations, making use of a set of US patents related to earlier patents of two different types (one granted much faster than the other but with shorter life) received in China. This paper casts doubt on "option value" estimates of patent value based on patent renewal payments at 4, 8 and 10 years from grant, which assume that for flows of value from patents overtime, a higher earlier flow implies a higher expected flow later. We find, in contrast, an identifiable set of inventions with veryhigh early value flows (measured by citations) but lower later value flows. If we value patents by renewal payments at 4,8 and 14 years these early value patents will seem to be low-value patents. With Zhen Sun, Wright worked on a study of early citations to patent applications and what they can tell us about the examination process including determination of validity, and the predicted value of the cited inventions.
Publications
- Type:
Journal Articles
Status:
Published
Year Published:
2018
Citation:
Drivas, K., Lei, Z, and Brian D. Wright. 2018 Application publication or confirmation of grant: Which matters more for academic technology transfer? International Journal of Industrial Organization, 56 (January): 204-228,
doi.org/10.1016/j.ijindorg.2017.10.005
|
Progress 02/02/17 to 09/30/17
Outputs
Target Audience:Agricultural economists, agribusiness, economists, farmers, political decision makers, agricultural investors, agricultural researchers including agronomists, geneticists, biologists. Changes/Problems:
Nothing Reported
What opportunities for training and professional development has the project provided?Wright served as Dissertation Chair of advisee Ernesto Guerra, a doctoral candidate in Agricultural and Resource Economics at UC Berkeley. Ernesto has almost completed a dissertation including two studies of numerical challenges associated with solving dynamic stochastic models of accumulation, such as models of grain markets recognizing storage activity. His third paper addresses the important but neglected issue of the best data to use when estimating the annual behavior of commodity markets. He finds that for Maize, annual average data are unsatisfactory - averaging induces high autocorrelation. The best month for representing annual price movements appears to be December for maize. Eugenio is will graduate soon and return to work in agricultural economics in Chile. How have the results been disseminated to communities of interest?Wright presented the progress on the paper on the implications of secular productivity trends for price behavior to the conference on New Directions in Commodities Research, J.P. Morgan Center for Commodities, Business School, University of Colorado Denver, August, 2017, at the Department of Agricultural and Resource Economics at U. Católica, Santiago Chile, and at the NC 1034 Annual Meeting, Tucson, AZ. Wright presented a seminar at Swinburne University of Technology, Melbourne, Australia, on Asymmetric Information: Implications for Patent Examination and Technology Transfer, June 5, 2017. What do you plan to do during the next reporting period to accomplish the goals?Wright intends to present his work referenced above at seminars in Chile, in Australia, in New Zealand, in Delhi, India and in the United States in the coming year.
Impacts
What was accomplished under these goals?
1. Academic inventions are key drivers of technical progress in modern economies, and exclusive licensing has become the dominant means of transfer to the private sector. However, the strong licensee incentives generated by exclusive academic licensing are generally assumed to come at the expense of discouragement or diversion of research by nonlicensees. Using data from university campuses and national research laboratories, Wright with Kyriakos Drivas and Zhen Lei, Wright produced and published a study using data from the campuses of the university of California and three national research laboratories finding that, after exclusive licensing, forward citations by private sector non-licensees actually increase. An unanticipated exclusive license appears to be a signpost pointing to commercially relevant innovation pathways that nonlicensees follow with successful patented research. Tests using multiple pre-license information disclosures by the university of California support this signaling hypothesis; when multiple pre-licensing disclosures are made, subsequent licensing has no significant effect on forward citations of non-licensees. 2. With Zhen Lei of Penn State University Wright published a study demonstrating that a major reason why examiners at the US Patent Office issue weak patents is that they are ignorant of the quality of the patents they issue. Using a large date set of patents filed at the USPTO with related applications at the European and Japanese Patent Offices, and making use of latent semantics analysis, they show that examiners recognize weak applications and devote extra effort to find invalidating prior art. Their activity predicts a substantial portion of failure of related applications at the European Patent Office. 3. With Kyriakos Drivas and Zhen Lei, Wright made progress on a studycomparing the effects of two functions of the patent system -application publication and confirmation of grant -on licensing of academic inventions. After the year 2000, US patent applications have been published eighteen months after filing, rather than later, at grant. They find that early publication significantly increases the license hazard for exclusively licensed patents, and for inventions in the larger of the two major technology groups that we study (chemical, drugs and medical), implying an informational role of publication additional to that of academic publication. Patent grant has a generally insignificant effect on licensing hazard, consistent with efficient contingent pre-grant contracting, which significantly accelerates transfer in important technology fields. 4.With Eugenio Bobenrieth and Juan Bobenrieth, Wright made progress on a study of the effects of a secular productivity trend on the behavior of the price of a storable commodity. Their work shows that a small trend can make very nonlinear price dynamics appear to be best represented as a linear relation between current log price level and the expected change in the next year - that is, a small trend can make a nonlinear model of price dynamics, in which price behavior follows two different regimes in times of plenty and times of scarcity, appear to always follow a unit root process. 5. With Eugenio Bobenrieth and Juan Bobenmrieth, Wright made worked on an empirical model of dynamic commodity price behavior in which the parameters of the nonlinear model are estimated on trending data, rather than in a two-step process, detrending in a preliminary step. This work might make it possible to estimate models in which the trend interacts with other parameters in ways that cannot be considered in a two-step model.
Publications
- Type:
Journal Articles
Status:
Published
Year Published:
2017
Citation:
Drivas, K., Lei, Z, and Brian D. Wright. (2017). Academic patent licenses: Roadblocks or
signposts for nonlicensee cumulative innovation? Journal of Economic Behavior & Organization, 137 (May): 282- 303.
- Type:
Journal Articles
Status:
Published
Year Published:
2017
Citation:
Lei, Z. and B.D. Wright. (2017). Why Weak Patents? Testing the Examiner Ignorance Hypothesis. Journal of PublicEconomics148(April):4356.
doi.org/10.1016/j.jpubeco.2017.02.004
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