On Markets in Knowledge
Two conditions must be met in order for specialised markets in knowledge to emerge: (i) The alienation of knowledge from its context which allows knowledge to become a commoditisable product that can be bought and sold and transferred thereafter to different uses. Property rights are sufficient to such alienation and commoditisation. (ii) The establishment of a reasonable volume of exchange transactions in that commodified knowledge, which in turn requires cross sectoral application and horizontal integration. Institutional structures facilitate the continuance of exchanges and are sufficient to the second condition. The second condition is more stringent than the first. Empirical evidence suggests that technological convergence may be the specific and important historical occurrence when markets in technological knowledge emerge. Technological convergence meant that there were areas where knowledge could be transferred across industries, and in that process of transference knowledge also became more generic and abstract. Copyright Kluwer Academic Publishers 1997
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- Arora, Ashish & Gambardella, Alfonso, 1994. "The changing technology of technological change: general and abstract knowledge and the division of innovative labour," Research Policy, Elsevier, vol. 23(5), pages 523-532, September.
- Sahal, Devendra, 1985. "Technological guideposts and innovation avenues," Research Policy, Elsevier, vol. 14(2), pages 61-82, April.
- Simon Ville, 1993. "The growth of specialization in English shipowning, 1750-1850," Economic History Review, Economic History Society, vol. 46(4), pages 702-722, November.
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- Arora, Ashish, 1997.
"Patents, licensing, and market structure in the chemical industry,"
Elsevier, vol. 26(4-5), pages 391-403, December.
- Ashish Arora, 1996. "Patents, Licensing, And Market Structure In The Chemical Industry," Industrial Organization 9605003, EconWPA.
- Brian J Loasby, 1994. "Understanding Markets," Working Papers Series 94/4, University of Stirling, Division of Economics.
- Ashish Arora & Farasat Bokhari, 1996. "Returns to Specialization, Transaction Costs, and the Dynamics of Industry Evolution," Industrial Organization 9606002, EconWPA, revised 01 Jul 1996.
- Bala, Venkatesh & Goyal, Sanjeev, 1994. "The Birth of a New Market," Economic Journal, Royal Economic Society, vol. 104(423), pages 282-90, March.
- Ashish Arora & Alfonso Gambardella, 1996. "Domestic Markets and International Competitiveness," Industrial Organization 9605001, EconWPA.
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