The goal of this project is to evaluate the functioning of the market for technologies: the processes through which technologies and intellectual property rights are traded or licensed. Prior studies have highlighted that the market for technologies is key for economic growth, but does not appear to be functioning well. Issues in the market for technologies include high search costs to identify relevant technologies and their owners, and information asymmetries and moral hazard issues technology negotiations, and the problematic valuation of technologies. Despite this conceptual understanding, there is an acute lack of empirical knowledge. Estimates of the number of traded patents or unused technologies are rough, and it is not clear which of the issues in the market are the most important.
This project contributes to overcoming these issues by studying patent legal event data to identify transactions, and by analyzing the technology trade process through surveys to identify bottlenecks. The results of this project will generate a better understanding about the key issues in the market for technologies. This project is the first step in order to be able to improve the design of the market for technologies.