Using PageRank in the analysis of technological progress through patents: an illustration for biotechnological inventions
- 459 Downloads
This paper examines whether PageRank algorithms are a valid instrument for the analysis of technical progress in specific technological fields by means of patent citation data. It provides evidence for patent data in biotechnology. Recent literature has been critical with regard to the use of PageRank for the analysis of scientific citation networks. The results reported in this paper indicate, however, that with some minor adaptations and careful interpretation of the results the algorithm can be used to capture some important stylised facts of technical progress and the importance of single patents relatively well especially if compared to indicators based on direct inward citations only.
KeywordsPatent citations Technological progress PageRank algorithm Biotechnology
JEL ClassificationO31 O32 O34
The research leading to this paper has received funding in the context of the Austria 2025 Research Project funded by the Federal Ministry of Transport, Innovation and Technology (BMVIT), the Federal Ministry Economic Affairs and Research (BMWFW), and the Austrian National Bank (OeNB). Support by the Austrian Council for Research and Technology Development is also acknowledged. We thank Kathrin Hoffmann for research assistance.
- Abrams, D., Akcigit, U., & Popadak, J. (2013). Understanding the link between patent value and citations: Creative destruction or defensive disruption. mimeo., University of Pennsylvania.Google Scholar
- Acemoglu, D., Akcigit, U., & Kerr, W. (2016). Innovation network. Working Paper 22783, National Bureau of Economic Research.Google Scholar
- Boldi, P., Santini, S., & Vigna, S. (2005). PageRank as a function of the damping factor. In Proceedings of the 14th international conference on the world wide web, Association for Computing Machinery, New York.Google Scholar
- de Rassenfosse, G., Dernis, H., & Boedt, G. (2014). Patent citation data in social science research: Overview and best practices. Working Paper 8/14, Melbourne Institute Working Paper.Google Scholar
- Hall, B., Griliches, Z., & Pakes, A. (1991). R&D, patents, and market value revisited: Is there a second (technological opportunity) factor? Economics of Innovation and New Technology, 1(1), 183–202.Google Scholar
- Hall, B., Jaffe, A., & Trajtenberg, M. (2005). Market value and patent citations. RAND Journal of Economics, 36, 16–38.Google Scholar
- Jaffe, A., & de Rassenfosse, G. (2016). Patent citation data in social science research: Overview and best practices. Working Paper 21868, National Bureau of Economic Research.Google Scholar
- Shaffer, M. (2011). Entrepreneurial innovation: Patent rank and marketing science. PhD dissertation, Washington State University.Google Scholar