Mark Schankerman
Professor of Economics, London School of Economics
Research Associate, Centre for Economic Performance (LSE)
Research Fellow, Centre for Economic Policy Research (CEPR)
Tel: 44.207.955.7518

Department of Economics
London School of Economics and Political Science
Houghton Street
London WC2A 2AE



Recent Research Papers:


“ Licensing Life-Saving Drugs for Developing Countries: Evidence from the Medicines Patent Pool” with Alberto Galasso. Revise and resubmit at the Review of Economics and Statistics. Early version as CEPR Discussion Paper 15544 (revised July 2021).


Work in Progress:

“The Patent Bazaar: Incentives and Screening in the U.S. Patent System” with William Matcham and Jakub Drabik


“On the Validity of Leniency Instruments” with William Matcham


“Blending Private and Public Financing of R&D” with Zvika Neeman


“Designing Standards: Balancing Incentives for Technology Development and Adoption” with Pierre Regibeau and Florian Schuett






The Comingled Code: Open Source and Economic Development, with Josh Lerner (Cambridge, MA: MIT Press, October 2010). Paperback edition issued in 2013.
Reviewed in The Economist (13 January 2011)

Excerpts published in European Financial Review (December 2011-January 2012): 40-44
Polish edition (Free Media Publishing, Warsaw), Korean edition (Acorn Publishing, 2013), Chinese edition (CITIC Press, forthcoming)



Published articles:


“Patent Screening, Innovation and Welfare” with Florian Schuett. Forthcoming in the Review of Economic Studies(expected 2022)


“Government Financing of R&D: A Mechanism Design Approach” with Saul Lach and Zvika Neaman, American Economic Journal: Microeconomics (2021), 13(3): 238-272


“Patent Rights, Innovation and Firm Exit , with Alberto Galasso, RAND Journal of Economics (Spring 2018), 49(1): 64-86

“Patents and the Global Diffusion of New Drugs, with Iain Cockburn and Jean Lanjouw. American Economic Review (2016), 106(1): 136-164

“ Patents and Cumulative Innovation: Causal Evidence from the Courts”, with Alberto Galasso, Quarterly Journal of Economics (2015), 130 (1): 317-369

“ Patent Rights and Cumulative Innovation: Causal Evidence and Implications for Policy”, in Austrian Council for Research and Technology Development, Designing the Future: Economic, Societal and Political Dimensions of Innovation (Vienna: Echomedia Buchverlag 2015): 413-430

“ Motivation and Sorting of Human Capital in Open Innovation,” with Sharon Belenzon, Strategic Management Journal (2015), 36(6): 795-820, lead article. Available online at journal website

“ Identifying Technology Spillovers and Product Market Rivalry,” with Nick Bloom and John Van Reenen, Econometrica (2013), 81(4): 1347-1393. Supplement (Appendices) published on Econometrica Supplementary Material website: 1-33

“ Trading and Enforcing Patent Rights,” with Alberto Galasso and Carlos Serrano, RAND Journal of Economics (Summer 2013), 44(2): 275-312


“ Spreading the Word: Geography, Policy and Knowledge Spillovers,” with Sharon Belenzon, Review of Economics and Statistics (2013), 95(3): 884-903


“ Strategic Patenting and Software Innovation,” with Michael Noel, Journal of Industrial Economics (2013), Volume LXI, No. 3: 481-520


“ Editor and “Introduction to Symposium on Patents, Entrepreneurship and Innovation,” Journal of Industrial Economics (2013), Volume LXI, No. 3: 471-480

“Patent Thickets, Courts and the Market for Innovation,” with Alberto Galasso, RAND Journal of Economics, vol. 41, no. 3 (2010): 472-503


“University Knowledge Transfer: Private Ownership, Incentives and Local Development Objectives,” with Sharon Belenzon, Journal of Law and Economics, vol.52 (2009): 111-144


“Improving Patent Incentives and Enforcement,” Journal of Intellectual Property Law and Practice (September 2009): 11-23


“Comments on ‘A Policy Shaped Research Agenda on the Economics of Science and Technology Policy’,” in Dominique Foray (ed.), The New Economics of Technology Policy (Cheltenham: Edward Elgar Publishing, 2009): 122-26


“Incentives and Invention in Universities,” with Saul Lach, RAND Journal of Economics, vol. 39, no.2 (2008): 403-433


“On the Welfare Effects and Political Economy of Competition-Enhancing Policies,” with Philippe Aghion, Economic Journal, 114 (October 2004), 804-824


“Royalty Sharing and Technology Licensing in Universities,” with Saul Lach, Journal of the European Economic Association, 2 (2/3), (April-May 2004): 252-264


“Protecting Patent Rights: Are Small Firms Handicapped?” with Jean Lanjouw, Journal of Law and Economics, 48(1), (April 2004), 45-74


“Patent Quality and Research Productivity: Measuring Innovation with Multiple Indicators,” with Jean Lanjouw. Economic Journal (April 2004): 441-465


 “Idiosyncratic and Common Shocks to Investment Decisions,” Economic Journal (October 2002): 766-785


“An Empirical Analysis of the Enforcement of Patent Rights in the United States,” with Jean Lanjouw,  in Patents in the Knowledge-Based Economy, ed. Wesley Cohen and Steven Merrill (National Academy Press: Washington, D.C., 2003): 145-179


“Damages and Injunctions for Protecting Intellectual Property,” with Suzanne Scotchmer. RAND Journal of Economics (2001): 199-221


“Characteristics of Patent Litigation: A Window on Competition,” with Jean Lanjouw, RAND Journal of Economics (2001), 129-151.  Reprinted in Robert Merges, ed., Economics of Intellectual Property Law (Edward Elgar Publishing, 2007)


"Intervention, Corruption and Capture: The Nexus between Enterprises and the State," with Joel Hellman, Economics of Transition (2000): 545-576


“Patent Renewals and R&D Incentives,” with Francesca Cornelli, RAND Journal of Economics (1999): 17-34


“Comments in R&D Roundtable,” in Samuel Kortum, ed., “An R&D Roundtable,” Economics of Innovation and New Technology (2004), 13(4): 349-363


Competition, Entry and the Social Returns to Infrastructure in Transition Economies,” with Philippe Aghion, Economics of Transition (March 1999), 79-104


“Governance in Transition,” Transition Report: Enterprise Performance and Growth (European Bank for Reconstruction and Development, Her Majesty’s Stationery Office: London, 1999), Chapter 6, 48-59


"How Valuable is Patent Protection? Estimates by Technology Field," RAND Journal of Economics, vol. 29, no.1 (1998), 77-107


“Enterprise Restructuring and Social Benefits,” with Simon Commander, Economics of Transition, vol.5, no.1 (1997), 1-24


“Growth in Transition Economies: Sources and Obstacles,” with Philippe Aghion, in Transition Report: Enterprise Performance and Growth (European Bank for Reconstruction and Development, Her Majesty’s Stationery Office: London, 1997), Chapter 3, 48-59


“Symmetric Regulation for Competitive Telecommunications,” Information Economics and Policy, vol.8 (1996), 3-23


Transition Report: Investment and Enterprise Development (European Bank for Reconstruction and Development, distributed by Her Majesty’s Stationery Office: London, 1995), editor and co-author of 3 chapters:

"Transition: measurement and indicators," Chapter 2, 14-32


"Transition Impact of Investment Projects," Chapter 7, 118-126


"Ownership, Governance and Restructuring," with Philippe Aghion, Chapter 8, 128-138


“Exploiting New Market Opportunities in Telecommunications,” with V Bishop and A Mody, in Infrastructure Delivery: Private Initiatives and the Public Good, edited by Ashok Mody (Washington, D.C.: World Bank, 1997), 37-78


"Measurement of the Value of Patent Rights and Inventive Output Using Patent Renewal Data", Science and Technology Indicators Review (Paris: OECD, 1991), 101-122


"Dynamics of R&D and Investment in the Scientific Sector", with Saul Lach, Journal of Political Economy (August 1989), 880-904


"Estimates of the Value of Patent Rights in European Countries During the Post-1950 Period," with Ariel Pakes, Economic Journal (December 1986), 1052-1076.  Reprinted in Robert Merges, ed., Economics of Intellectual Property Law (Edward Elgar Publishing, 2007).


"A Test of static Equilibrium Models and Rates of Return to Quasi-Fixed Factors, with an Application to the Bell System", with M.I. Nadiri, Journal of Econometrics (October/November 1986), 97-118


"Estimating the Effects of R&D on Bell System Productivity: A Model of Embodied Technical Change", with Roger Gordon and Richard Spady, in M. Peston and R. Quandt, eds., Prices, Competition and Equilibrium (Oxford: Philip Allan Press, 1986), 164-190


"Valeur et obsolescence des brevets: une analyse des statistiques de renouvellement des brevets Européens", Revue Economique: Economie de la Recherche-Développement (September 1985), 917-942


"An Exploration into the Determinants of Research intensity", with Ariel Pakes, in Z. Griliches, ed., R&D, Patents and Productivity (Chicago: University of Chicago Press, 1984), 209-233


"Investment in R&D, Costs of Adjustment and Expectations", with M.I. Nadiri, in Zvi Griliches, ed., R&D, Patents and Productivity, (Chicago: University of Chicago Press, 1984), 315-338


"The Rate of Obsolescence of Patents, Research Gestation Lags, and the Private Rate of Return to Research Resources", with Ariel Pakes, in Zvi Griliches, ed., R&D, Patents and Productivity (Chicago: University of Chicago Press, 1984), 98-112


"Comment on Long Run Trends in Patents", in Zvi Griliches, ed., R&D, Patents and Productivity University of Chicago Press, 1984)


"Technical Change, Returns to Scale, and the Productivity Slowdown," with M.I. Nadiri, American Economic Review (May 1981), 314-319


"The Structure of Production, Technological Change, and Total Factor Productivity Growth in the Bell System", with M.I. Nadiri, in T. Cowing and R. Stevenson, eds., Productivity Measurement in Regulated Industries (New York: Academic Press, 1981), 219-247


“The Effects of Double Counting and Expensing on the Measured Returns to R&D,” Review of Economics and Statistics (August 1981), 454-459


"Identical Bids and Cartel Behavior,” with William Comanor, Bell Journal of Economics and Management Science (Spring 1976), 281-286


"Common Costs in Pharmaceutical Research and Development: Implications for Direct Price Regulation", in Samuel Mitchell and Emery Link, ed., Impact of Public Policy on Drug Innovation and Pricing (American University Press: Washington, 1976), 3-26



Other Research and Policy Papers:


“Economic Principles for Efficient Public Procurement in Information Technology,” with Jacques Cremer, Submission to the U.K. Cabinet Office in connection with the Open Standards Consultation (May 2012). Available at

“Public Support for Research in Universities: Some Discussion Points,” Invited Discussion Paper for the U.K. Economic and Social Research Council (March 2006)


“Blended Finance and Subsidies: An Economic Analysis of the Use of Grants and Other Subsidies in Project Finance of Multilateral Development Banks,” with Willem Buiter, European Bank for Reconstruction and Development, Working Paper (June 2002)


“Blended Finance and Grants: An Accounting Framework for Enhanced Transparency in the Use of Grants in Projects,” with Willem Buiter and Maria Vagliasindi (European Bank for Reconstruction and Development (January 2003)


“An Analytical Framework for Evaluating Transition Impact of Infrastructure Projects,” with Philippe Aghion, European Bank for Reconstruction and Development, Working Paper No. 57 (October 2000)


“Corruption and Regulation: Theory and Evidence,” London School of Economics, mimeo (December 2001). Presented at the EBRD Tenth Anniversary Conference on Transition (London)


"Measuring Governance, Corruption and State Capture: How Firms and Bureaucrats Shape the Business Environment in Transition Economies," with J Hellman, G Jones and D Kaufmann, World Bank Working Paper No.2312 (2000)


“Symmetric Regulation,” with Len Waverman and Lorenzo Pupillo, Paper presented at European Telecommunications Conference, Stockholm (June 1999)


"Evaluating the Need for Broadband Open Access Policies," with Len Waverman and Carlo Cardilli (1998)


“Investment Appraisal, Policy Reform and the Transition Process,” with Robin Burgess and Nicholas Stern, presented at the Conference on Policy Studies to Promote Private Sector Development (EBRD, April 1996)


"Shackles or Shillings: Constraints to Kenyan Private Sector Development," mimeo, World Bank, 1992


"The Private Value of Patent Rights in France, 1969-1987: An Empirical Study of Patent Renewal Data," Final Report, Division of Science and Technology Indicators, U.S. National Science Foundation (January 1990)



Book Reviews:


Adam Jaffe and Manuel Trajtenberg, Patents, Citations and Innovations: A Window on the Knowledge Economy (MIT Press: Cambridge, MA, 2002), Economic Journal, 113 (November 2003), 653-654


Maxim Boyko, Andrei Shleifer and Robert Vishny, Privatizing Russia (MIT Press: Cambridge, MA, 1995), Journal of Economic Literature (June 1997), 818-820


Partha Dsgupta and Paul Stoneman, ed., Economic Policy and Technological Performance (Cambridge University Press, 1987) in Journal of Economic Literature (June 1990)


James Tobin, Asset Accumulation and Economic Activity, Giornale Economisti (September/October 1984)


Robert Amman and Michael Cooper, ed., Industrial Innovation in the Soviet Union,  Giornale Economisti (September/October 1984)




Last updated: 13/10/2021