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The Economics of University: a Knowledge Governance Approach

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University is becoming the beam of the new emerging mode of governance of the generation and dissemination of knowledge as it reveals remarkable institutional advantages both to provide a solution to the knowledge trade-off and to reduce agency costs. The typical academic labor relation emerges as an appropriate institutional device to handle the principal agent problems when creative talents are required. The unique institutional setup of the academic system creates the supply of certified skills that are ready to operate on a professional base. Such academic consultants can be paid on an ex-post per job base matching their variable costs only. This supply leads to the creation of a specific market for research services where the demand is provided by the knowledge outsourcing of corporations

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  • Antonelli, Cristiano, 2006. "The Economics of University: a Knowledge Governance Approach," 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 200602, University of Turin.
    • Handle: RePEc:uto:labeco:200602
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    1. Consoli, Davide & Rentocchini, Francesco, 2015. "A taxonomy of multi-industry labour force skills," Research Policy, Elsevier, vol. 44(5), pages 1116-1132.
    2. Jérôme Vicente & Pierre-Alexandre Balland & Olivier Brossard, 2008. "Getting Into Networks and Clusters: Evidence on the GNSS composite knowledge process in (and from) Midi-Pyrénées," Papers in Evolutionary Economic Geography (PEEG) 0815, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Oct 2008.
    3. Antonelli, Cristiano, 2005. "The Governance Of Localized Knowledge: An Information Economics Approach For The Economics Of Knowledge," 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 200502, University of Turin.

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