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The management of innovation

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  • Aghion, P.
  • Tirole, J.

Abstract

The paper analyzes the organization of the R&D activity in an incomplete contract framework. It provides theoretical foundations: (a) to understand how the allocation of property rights on innovations may affect both the frequency and the magnitude of these innovations; (b) to rationalize commonly observed features in research employment contracts, such as shop rights, trailer clauses, and the "hired for" doctrine; (c) to discuss the robustness of the so-called Schumpeterian hypotheses to endogenizing the organization of R&D; and (d) to provide a rationale for cofinancing arrangements in research activities.

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File URL: http://discovery.ucl.ac.uk/17669/1/17669.pdf
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Bibliographic Info

Paper provided by University College London in its series Open Access publications from University College London with number http://discovery.ucl.ac.uk/17669/.

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Date of creation: Nov 1994
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Publication status: Published in Quarterly Journal of Economics (1994-11) v.109, p.1181-1209
Handle: RePEc:ner:ucllon:http://discovery.ucl.ac.uk/17669/

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Web page: http://www.ucl.ac.uk

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