The Effect of Compliance Time in Patent Examination: An Experimental Study
42 Pages Posted: 9 Mar 2017
Date Written: March 8, 2017
Using controlled and incentivized decision experiments, we explore whether the length of compliance periods in patent examinations affects behaviour and the overall efficiency of the system. In our stylized experiments, participants decide in the role of a patentee who faces uncertainty about the prospects of the application and must invest real effort over an extended period of time, in order to reach a minimum threshold. Overall, we find some evidence that a very long time horizon outperforms a short one.
Keywords: Deadlines, certification, behaviour, real effort, investment, sunk cost fallacy
JEL Classification: C91, D02, D83
Suggested Citation: Suggested Citation