Selected Refereed Publications
"How stars matter: Recruiting and peer effects in evolutionary biology, " - with John McHale and Alex Oettl, Research Policy, 2017
"Understanding the Changing Structure of Scientific Inquiry," - with Avi Goldfarb and Florenta Teodoridis, American Economic Journal: Applied Economics, 2016, 8(1): 100-128
"Recruiting for Ideas: How Firms Exploit the Prior Inventions of New Hires," - with Jasjit Singh, Management Science 57(1), 2011, 129-150.
"Brain Drain or Brain Bank? The Impact of Skilled Emigration on Poor-Country Innovation," - with Devesh Kapur, John McHale, and Alex Oettl, Journal of Urban Economics, 69(1), 2011, 43-55.
"Restructuring Research: Communication Costs and the Democratization of University Innovation," – with Avi Goldfarb, American Economic Review, 2008, Vol. 98(4), pp. 1578–1590
"Have University Knowledge Flows Narrowed? Evidence from Patent Data," - with Carlos Rosell, Research Policy, Vol. 38 (1), 2009, 1-13.
"How Do Spatial and Social Proximity Influence Knowledge Flows? Evidence from Patent Data," - with Devesh Kapur and John McHale, Journal of Urban Economics, 2008, Vol. 64, pp.258–269
"International Labor Mobility and Knowledge Flow Externalities," – with Alex Oettl, Journal of International Business Studies, 39, 1242 - 1260 (07 Feb 2008)
"Gone But Not Forgotten: Knowledge Flows, Labor Mobility, and Enduring Social Relationships," – with Iain Cockburn and John McHale, Journal of Economic Geography, September 2006, 6, pp. 571-591
The Geography of Ideas
“Why Are Some Regions More Innovative than Others? The Role of Firm Size Diversity,” - with Iain Cockburn, Alberto Galasso, and Alex Oettl, Journal of Urban Economics: 81, 2014, 149-165.
"The Anchor Tenant Hypothesis: Exploring the Role of Large, Local, R&D-Intensive Firms in Regional Innovation Systems," - with Iain Cockburn, International Journal of Industrial Organization, 21 (2003): 1227-1253
“Are Syndicates the Killer App of Equity Crowdfunding?” - with Avi Goldfarb and Christian Catalini, California Management Review, 58(2), 111-124 (2016).
“Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions,” - with Christian Catalini and Avi Goldfarb, Journal of Economics and Management Strategy, 24 (2) 253-274 (2015).
“Life Sciences Venture Capital in Emerging Markets,” - with Justin Chakma and Stephen Sammut, Nature Biotechnology, 31(3), 195-201 (2013).
Commercialization of University Science
“Deals not Done: Sources of Failure in the Market for Ideas” - with Iain Cockburn and Laurina Zhang, Strategic Management Journal, 36(7), 2015, 976-986.
Public Sector Science and the Strategy of the Commons – with Lorenzo Garlappi, Economics of Innovation and New Technology, 2007, Vol. 16 (7), pp. 517-539
Engaging the Inventor: Exploring Licensing Strategies for University Inventions and the Role of Latent Knowledge - Strategic Management Journal, January 2006, Vol. 27, Issue 1, pp. 63-79
Putting Patents in Context: Exploring Knowledge Transfer from MIT - with Rebecca Henderson, Management Science, Vol. 48, No. 1, January 2002
"Research on University-to-Industry Knowledge Transfer: Framework of Existing Literature and Unanswered Questions," - International Journal of Management Reviews, December 2001
Information and Market Frictions
“Does standardized information in online markets disproportionately benefit job applicants from less developed countries?,” - with Nicola Lacetera and Elizabeth Lyons, Journal of International Economics, forthcoming (2016).
Public Sector Science and the Strategy of the Commons (abridged) - with Lorenzo Garlappi, Best Paper Proceedings, Academy of Management, 2002
Abstract: We model the conditions under which incumbent firms may purposefully create an intellectual property commons such that no firm has the incentive to invest in new product development, despite the potential profitability of a public sector, university invention. The strategy of spoiling incentives to innovate by eliminating exclusive intellectual property rights—the strategy of the commons—is motivated by a fear of cannibalization and supported by a credible threat. We show how the degree of potential cannibalization is related to this market failure and characterize the subgame perfect equilibrium in which the strategy of the commons is played.
Abstract: D-Wave Systems is a start-up seeking to commercialize a quantum computer. Its business model is unique: as of 2003, it had very few technical resources within the firm. Instead, it financed a series of projects undertaken at universities and government labs. In return for partial funding, these organizations gave D-Wave the ownership of--or exclusive rights to--intellectual property developed in the project. Geordie Rose, CEO of D-Wave, wonders how long this model is appropriate in contrast to the alternative of centralizing the research in an in-house facility, with all the costs this would incur.
Patents Versus Other Knowledge Transfer Channels (Summary of “Putting Patents in Context”) – Technological Innovation and Intellectual Property Newsletter, Vol. 5, 2003
Abstract: In this paper we explore the degree to which patents are representative of the magnitude, direction, and impact of the knowledge spilling out of the university by focusing on the Massachusetts Institute of Technology (MIT), and in particular, on the Departments of Mechanical and Electrical Engineering. Drawing on both qualitative and quantitative data, we show that patenting is a minority activity: a majority of the faculty in our sample never patent, and publication rates far outstrip patenting rates. Most faculty members estimate that patents account for less than 10% of the knowledge that transfers from their labs. Our results also suggest that in two important ways patenting is not representative of the patterns of knowledge generation and transfer from MIT: patent volume does not predict publication volume, and those firms that cite MIT papers are in general not the same firms as those that cite MIT patents. However, patent volume is positively correlated with paper citations, suggesting that patent counts may be reasonable measures of research impact. We close by speculating on the implications of our results for the difficult but important question of whether, in this setting, patenting acts as a substitute or a complement to the process of fundamental research.
Comment on "The Service Economy in Canada." In Services Industries and Knowledge-Based Economy. Edited by Richard G. Lipsey and Alice O. Nakamura. The Industry Canada Research Series. Calgary:University of Calgary Press, 2005
Abstract: This essay offers some thoughts on the paper “Location Effects, Locational Spillovers, and the Performance of Canadian Information Technology Firms” by Steven Globerman, Daniel Shapiro and Aidan Vining. The paper was prepared for the Micro-Economic Policy Analysis (MEPA) division at Industry Canada and presented at the conference “Services Industries and the Knowledge-Based Economy” in Winnipeg, in October, 2003. The comments presented in this essay are based on my discussant remarks presented at that conference.
Innovation, Growth Theory, and the Role of Knowledge Spillovers - Statistics Canada, Innovation Analysis Bulletin, Vol. 4, No. 3, November 2002
Abstract: The relationship between innovation and economic growth has been well studied. However, that is not to say that it is well understood. Renowned scholars continue to work with incredibly simplified models of an incredibly complex economy. Consequently, empirical results are usually carefully annotated with caveats noting the limitations of all findings and the great uncertainties that remain concerning fundamental assumptions in the field.
Innovation and the Growth of Cities (book review) - Journal of Economic Geography, October 2003, Vol. 3, Issue 4