What Is a Patent Worth? Evidence from the U.S. Patent “Lottery”

We provide evidence on the value of patents to startups by leveraging the quasi-random assignment of applications to examiners with different propensities to grant patents. Using unique data on all first-time applications filed at the U.S. Patent Office since 2001, we find that startups that win the patent “lottery” by drawing lenient examiners have, on average, 55% higher employment growth and 80% higher sales growth five years later. Patent winners also pursue more, and higher quality, follow-on innovation. Winning a first patent boosts a startup’s subsequent growth and innovation by facilitating access to funding from venture capitalists, banks, and public investors.     

Calvin's Reformation in Geneva: Self and Social Signalling

As Weber ( 1904 ) recognized, Calvinistic beliefs about predestination may constitute a powerful incentive for good works; an individual wishes to receive assurances about her future prospects of salvation, and good works may provide a positive signal about such prospects. These beliefs can in turn create a social pressure to behave well, as good works can also signal to others that individuals belong to the “elect” and are therefore likely to behave well in social interactions. Moreover, the Consistory, an institution created by Calvin to monitor and publicize individuals' behavior, can allow for such social signalling. We analyze these self and social signalling incentives, and show how religions affect levels of cooperation and coordination.     

Consumer Willingness to Pay for Seafood Safety Assurances

Despite its many health benefits, seafood consumption has declined partially due to consumers' safety concerns. Efforts to provide safety assurance to consumers have focused on provision of government inspection programs; programs that both consumer groups and the seafood industry have called inadequate. This study explores consumer preferences for a wide array of alternative safety assurances. Consumers' selection of and willingness to pay for seafood safety assurances were elicited using an in-person market-like experiment. Results indicate that consumers are able to demonstrate clear preferences and values for alternative assurances. This indicates further consumer research is warranted to provide a basis for public policy recommendations regarding seafood safety assurances.     

The Public Health Implications of Consumers' Environmental Concern and Their Willingness to Pay for an Eco‐Friendly Product

Environmental concern has been an important topic for more than 40 years and has recently become even more critical with today's concerns about creating a sustainable and healthy environment. This research examines factors affecting an individual's willingness to pay more for an environmentally friendly product. Our results show that willingness to pay more differs across demographic groups. We also find that individuals who rate concern for waste as highly important are willing to spend more money on an eco‐friendly product. Consequently, our findings provide insight into the development of appropriate educational strategies for different consumer groups to encourage consumers to purchase eco‐friendly products, with a goal of creating a healthier environment for current and future generations.     

Motives for purchase decision-making: combining attribution and functional approaches

The motivations which lead to consumer decisions have been given relatively little research attention, since motivations are difficult to quantify. The four part typology developed by Katz,¹ when combined with self-perceived attributions, provides a useful method of examining the motivational underpinnings of consumer-purchase decisions. This study involved an experimental design to evaluate self perceptions of the four functional motives—ego defensive, value expressive, knowledge and utilitarian. A sample of 105 undergraduate students attributed their use or purchase for each of 52 items to one of the four functional motives. Using these responses as self-perception attributions, two research questions were examined: (i) would the four part typology be useful in explaining self-perceptions of past behaviour? and (ii) would one function of the typology dominate these reports for each item? An across-subject analysis suggested the four part typology could be meaningfully employed within a self-perception context. However, one functional motive dominated attributions for only six of 52 items. Since motivations and consumer behaviour are clearly linked, this research offers a method of providing additional insight into that linkage. The paper concludes with further research possibilities that integrate the functional motive approach and self-perception attributions.