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Mikko Packalen
University of Waterloo
16Publications
7H-index
96Citations
Publications 16
Newest
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Jay Bhattacharya (NBER: National Bureau of Economic Research)H-Index: 36
Older scientists are often seen as less open to new ideas than younger scientists. We put this assertion to an empirical test. Using a measure of new ideas derived from the text of nearly all biomedical scientific articles published since 1946, we compare the tendency of younger and older researchers to try out new ideas in their work. We find that papers published in biomedicine by younger researchers are more likely to build on new ideas. Collaboration with a more experienced researcher matter...
8 CitationsSource
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
A key decision in scientific work is whether to build on novel or well-established ideas. Because exploiting new ideas is often harder than more conventional science, novel work can be especially dependent on interactions with colleagues, the training environment, and ready access to potential collaborators. Location may thus influence the tendency to pursue work that is close to the edge of the scientific frontier in the sense that it builds on recent ideas. We calculate for each nation its pos...
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The National Institutes of Health (NIH) plays a critical role in funding scientific endeavors in biomedicine that would be difficult to finance via private sources. One important mandate of the NIH is to fund innovative science that tries out new ideas, but many have questioned the NIH’s ability to fulfill this aim. We examine whether the NIH succeeds in funding work that tries out novel ideas. We find that novel science is more often NIH funded than is less innovative science but this positive ...
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#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Jay Bhattacharya (Stanford University)H-Index: 36
The ranking of scientific journals is important because of the signal it sends to scientists about what is considered most vital for scientific progress. Existing ranking systems focus on measuring the influence of a scientific paper (citations)--these rankings do not reward journals for publishing innovative work that builds on new ideas. We propose an alternative ranking based on the proclivity of journals to publish papers that build on new ideas, and we implement this ranking via a text-base...
7 CitationsSource
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Jay Bhattacharya (NBER: National Bureau of Economic Research)H-Index: 36
Faster technological progress has long been considered a key potential benefit of agglomeration. Physical proximity to others may help inventors adopt new ideas in their work by increasing awareness about which new ideas exist and by enhancing understanding of the properties and usefulness of new ideas through a vigorous debate on the ideas' merits (Marshall, 1920). We test a key empirical prediction of this theory: that inventions in large cities build on newer ideas than inventions in smaller ...
10 Citations
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Jay Bhattacharya (NBER: National Bureau of Economic Research)H-Index: 36
A key decision in research is whether to try out new ideas or build on more established ideas. In this paper, we evaluate which type of work is more likely to spur further invention. When recent advances create superior opportunities for invention, their adoption as research inputs in the invention process promotes technological progress. The gains from pursuing such innovative research paths may, however, be very limited as new ideas are often initially raw and poorly understood. We determine i...
3 Citations
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Anindya Sen (UW: University of Waterloo)H-Index: 13
Merger-specific efficiencies continue to play a relatively small role in merger enforcement and merger retrospectives. Motivated by the paucity of empirical analyses of merger-specific efficiencies, we examine a merger's market share effects. Standard merger theory predicts that if merger-specific efficiencies are present, the merged firm should regain market share in the long run. We estimate short- and long-run merger effects on market shares from the divestiture of Texaco's Canadian assets. U...
13 CitationsSource
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Jay Bhattacharya (NBER: National Bureau of Economic Research)H-Index: 36
Intelligently allocating research effort and funds requires deciding whether to build on recent advances or on more established knowledge. When recent advances create superior opportunities for invention, their adoption as research inputs in the invention process promotes technological progress. The gains from pursuing such innovative research paths may, however, be very limited, due to the undeveloped nature of new knowledge, quick obsolescence of fast-improving knowledge, and the vast scope of...
3 Citations
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
#2Tony S. Wirjanto (UW: University of Waterloo)H-Index: 18
Selecting an estimator for the covariance matrix of a regression's parameter estimates is an important step in hypothesis testing. From less to more robust estimators, the choices available to researchers include Eicker/White heteroskedasticity-robust estimator, cluster-robust estimator, and multi-way cluster-robust estimator. The rationale for choosing a less robust covariance matrix estimator is that tests conducted using this estimator can have better power properties. This motivates tests th...
3 CitationsSource
#1Mikko Packalen (UW: University of Waterloo)H-Index: 7
A market share exclusion contract between a seller and a buyer prevents rival sellers from competing for a share of the buyer's purchases. For non-discriminatory contracting we show that, unlike exclusion through exclusive dealing, market share exclusion can be profitable even when buyers coordinate on the best equilibrium in the contract-acceptance subgame. The condition for the profitability of market share exclusion is characterized in terms of straightforward economic concepts. With discrimi...
7 CitationsSource
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