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Business-Science Research Collaboration under Moral Hazard

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Abstract

I analyze, in the context of business and science research collaboration, how the characteristics of partnership agreements are the result of an optimal contract between partners. The final outcome depends on the structure governing the partnership, and on the informational problems towards the efforts involved. The positive effect that the effort of each party has on the success of the other party, makes collaboration a preferred solution. Divergence in research goals may, however, create conflicts between partners. This paper shows how two different structures of partnership governance (a centralized, and a decentralized ones) may optimally use the type of project to motivate the supply of non-contractible efforts. Decentralized structure, however, always choose a project closer to its own preferences. Incentives may also come from monetary transfers, either from partners sharing each other benefits, or from public funds. I derive conditions under which public interventio

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Bibliographic Info

Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 721.07.

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Length: 56
Date of creation: 07 Sep 2007
Date of revision:
Handle: RePEc:aub:autbar:721.07

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Keywords: collaboration; basic research; applied research; project; firms; universities; partnership governance;

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References

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  1. d'ASPREMONT, Claude & JACQUEMIN, Alexis, . "Cooperative and noncooperative R&D in duopoly with spillovers," CORE Discussion Papers RP -823, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Bronwyn H. Hall & Albert N. Link & John T. Scott, 2001. "Barriers Inhibiting Industry from Partnering with Universities: Evidence from the Advanced Technology Program," Development and Comp Systems 0012003, EconWPA.
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  4. Balconi, Margherita & Laboranti, Andrea, 2006. "University-industry interactions in applied research: The case of microelectronics," Research Policy, Elsevier, vol. 35(10), pages 1616-1630, December.
  5. Veugelers, Reinhilde & Cassiman, Bruno, 2005. "R&D cooperation between firms and universities. Some empirical evidence from Belgian manufacturing," International Journal of Industrial Organization, Elsevier, vol. 23(5-6), pages 355-379, June.
  6. Argyres, Nicholas S. & Liebeskind, Julia Porter, 1998. "Privatizing the intellectual commons: Universities and the commercialization of biotechnology," Journal of Economic Behavior & Organization, Elsevier, vol. 35(4), pages 427-454, May.
  7. Lee, Yong S, 2000. " The Sustainability of University-Industry Research Collaboration: An Empirical Assessment," The Journal of Technology Transfer, Springer, vol. 25(2), pages 111-33, June.
  8. Schartinger, Doris & Schibany, Andras & Gassler, Helmut, 2001. " Interactive Relations between Universities and Firms: Empirical Evidence for Austria," The Journal of Technology Transfer, Springer, vol. 26(3), pages 255-68, June.
  9. Caloghirou, Yannis & Tsakanikas, Aggelos & Vonortas, Nicholas S, 2001. " Univeristy-Industry Cooperation in the Context of the European Framework Programmes," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 153-61, January.
  10. Kamien, Morton I & Muller, Eitan & Zang, Israel, 1992. "Research Joint Ventures and R&D Cartels," American Economic Review, American Economic Association, vol. 82(5), pages 1293-306, December.
  11. Audretsch, David B, et al, 2002. " The Economics of Science and Technology," The Journal of Technology Transfer, Springer, vol. 27(2), pages 155-203, April.
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Cited by:
  1. Albert Banal-Estañol & Inés Macho-Stadler & David Pérez-Castrillo, 2011. "Research Output from University-Industry Collaborative Projects," Working Papers 539, Barcelona Graduate School of Economics.
  2. Albert Banal-Estañol & Ines Macho-Stadler & David Pérez-Castrillo, 2013. "Endogeneous Matching in University-Industry Collaboration: Theory and Empirical Evidence from the UK," CESifo Working Paper Series 4340, CESifo Group Munich.

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