Opportunity Knocks

Astebro, Thomas B.; Dahlin, Kristina

doi:10.2139/ssrn.609421

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Opportunity Knocks

33 Pages Posted: 26 Oct 2004

See all articles by Thomas B. Astebro

Thomas B. Astebro

HEC Paris - Economics and Decision Sciences

Kristina Dahlin

University of Oxford - Said Business School; University of Oxford - Department of Engineering Science

Date Written: February 22, 2005

Abstract

Research on technological opportunity has typically focused on the impact of broad industry characteristics on R&D intensity of firms. This study complements such approaches by examining the impact of a multidimensional vector that measures technological opportunity on independent inventors' decisions to patent and commercialize inventions. Using data from 559 inventions and controlling for demand, appropriability, and competitive conditions, we found two of four tested dimensions of technological opportunity - technical performance and technical uncertainty - to be significant and important determinants of the likelihood of commercialization. Technical feasibility appears important in affecting patenting but unimportant in affecting commercialization. Technical significance carries a negative, although insignificant, sign conditioning commercialization.

Keywords: Technological opportunity, invention, commercialization

JEL Classification: O33, O34

Suggested Citation: Suggested Citation

Astebro, Thomas B. and Dahlin, Kristina, Opportunity Knocks (February 22, 2005). Available at SSRN: https://ssrn.com/abstract=609421 or http://dx.doi.org/10.2139/ssrn.609421