On Monday, 4th February, Dr. Sergio Petralia post-doctoral researcher at the LSE and affiliated associate of the Center for International Development at Harvard University is presenting part of his research on emergence and spatial concentration of new technologies. He will be discussing a paper titled: ‘Mapping the Technological Frontier’
What does it make a technology valuable? Are there specific attributes that make technologies, and firms that produce them, more valuable? This article seeks to understand where is that the value of technologies reside, to understand which are the features that make them valuable. Using patent data, I propose a way of identifying the technological frontier based on three distinctive characteristics of technologies, the rate at which they improve, the variety of other type of technologies that complement with it, and the pervasiveness of its use. It is shown that technologies with these attributes are related to higher market values. Moreover, firms producing frontier technologies are related to higher market values and higher operating revenues.