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Knowledge From Research As A Quasi-Public Good

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Author Info

  • Attila György

    (Bucharest Academy of Economic Studies, Romania)

Abstract

Knowledge is a special quasi-public good which is delivered by several types of institutions, including public and private universities. Knowledge to be produced in bigger quantities, the state should contribute with budgetary financial support as subsidies or grants to cover a part of expenses. States are supporting research from public resources, especially the basic research which enjoy a smaller interest from the private research units due its small potential to be implemented and recovered throughout price. Public co-founding of research generates problems regarding the regime of patents’ ownership because financing bodies have divergent opinion regarding the utility of research in society’s development. There are different approaches offered in solving this problem, taking into account the forms of realizing this quasi-public good, approaches based especially on different type of joint-ventures. Academic research, perceived as a very important and income generating activity, is done in a very large scale of combinations between universities and private entities. These complicated relations generates information asymmetry specific to principal-agent relations in economy. The control of information asymmetry level is important because a high level corresponds to inefficient use of funds and smaller satisfaction of general needs.

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Bibliographic Info

Article provided by Constantin Brancusi University, Faculty of Economics in its journal Constatin Brancusi University of Targu Jiu Annals - Economy Series.

Volume (Year): 2 (2011)
Issue (Month): (May)
Pages: 56-62

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Handle: RePEc:cbu:jrnlec:y:2011:v:2:p:56-62

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Related research

Keywords: Knowledge; Quasi-public goods; Information Asymmetry;

References

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  1. Richard A. Jensen & Jerry G. Thursby & Marie C. Thursby, 2003. "The Disclosure and Licensing of University Inventions," NBER Working Papers 9734, National Bureau of Economic Research, Inc.
  2. Jensen, Richard A. & Thursby, Jerry G. & Thursby, Marie C., 2003. "Disclosure and licensing of University inventions: 'The best we can do with the s**t we get to work with'," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1271-1300, November.
  3. Antonelli, Cristiano, 2005. "Models Of Knowledge And Systems Of Governance," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 200501, University of Turin.
  4. Cristiano Antonelli, 2008. "The new economics of the university: a knowledge governance approach," The Journal of Technology Transfer, Springer, vol. 33(1), pages 1-22, February.
  5. Litan, Robert E. & Mitchell, Lesa & Reedy, E.J., 2007. "Commercializing University Innovations: A Better Way," Working paper 449, Regulation2point0.
  6. Albert N. Link & Donald S. Siegel & Barry Bozeman, 2006. "An Empirical Analysis of the Propensity of Academics to Engage in Informal University Technology Transfer," Rensselaer Working Papers in Economics 0610, Rensselaer Polytechnic Institute, Department of Economics.
  7. Hans Lööf & Anders Broström, 2008. "Does knowledge diffusion between university and industry increase innovativeness?," The Journal of Technology Transfer, Springer, vol. 33(1), pages 73-90, February.
  8. repec:reg:rpubli:449 is not listed on IDEAS
  9. D'Este, P. & Patel, P., 2007. "University-industry linkages in the UK: What are the factors underlying the variety of interactions with industry?," Research Policy, Elsevier, vol. 36(9), pages 1295-1313, November.
  10. Hessels, Laurens K. & van Lente, Harro, 2008. "Re-thinking new knowledge production: A literature review and a research agenda," Research Policy, Elsevier, vol. 37(4), pages 740-760, May.
  11. Aikaterini KOKKINOU, 2010. "Economic growth, innovation and collaborative research and development activities," Management & Marketing, Economic Publishing House, vol. 5(1), Spring.
  12. Albert N. Link & Donald S. Siegel & Barry Bozeman, 2007. "An empirical analysis of the propensity of academics to engage in informal university technology transfer ," Industrial and Corporate Change, Oxford University Press, vol. 16(4), pages 641-655, August.
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