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Organization of Markets for Science and Technology


  • Rajeev K. Goel
  • Daniel P. Rich


The traditional concentration of basic research activities in academic settings, with applied research more prevalent in industrial settings, is a distinguishing feature of science and technology markets. This structure arises from a unique combination of product characteristics, and in turn it influences incentives, contractual relationships, and conduct associated with research efforts by organizations and individuals. We propose a conceptual framework that combines ongoing advances in the economics of internal organization with the familiar structure-conduct-performance paradigm. The observed workings of research markets, including responses to recent policy initiatives encouraging collaborative research efforts, are best understood in the context of this comprehensive framework.

Suggested Citation

  • Rajeev K. Goel & Daniel P. Rich, 2005. "Organization of Markets for Science and Technology," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 161(1), pages 1-1, March.
  • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200503)161:1_1:oomfsa_2.0.tx_2-c

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    References listed on IDEAS

    1. Dasgupta, Partha, 1988. "The Welfare Economics of Knowledge Production," Oxford Review of Economic Policy, Oxford University Press, vol. 4(4), pages 1-12, Winter.
    2. Feller, Irwin, 1990. "Universities as engines of R&D-based economic growth: They think they can," Research Policy, Elsevier, vol. 19(4), pages 335-348, August.
    3. repec:fth:harver:1473 is not listed on IDEAS
    4. Zvi Griliches, 1998. "Patent Statistics as Economic Indicators: A Survey," NBER Chapters,in: R&D and Productivity: The Econometric Evidence, pages 287-343 National Bureau of Economic Research, Inc.
    5. Wesley M. Cohen & Richard R. Nelson & John P. Walsh, 2000. "Protecting Their Intellectual Assets: Appropriability Conditions and Why U.S. Manufacturing Firms Patent (or Not)," NBER Working Papers 7552, National Bureau of Economic Research, Inc.
    6. Audretsch, David B. & Bozeman, Barry & Combs, Kathryn L. & Feldman, Maryann & Link, Albert N. & Siegel, Donald S. & Stephan, Paula, 2002. "The Economics of Science and Technology," The Journal of Technology Transfer, Springer, vol. 27(2), pages 155-203, April.
    7. Adams, James D, 1990. "Fundamental Stocks of Knowledge and Productivity Growth," Journal of Political Economy, University of Chicago Press, vol. 98(4), pages 673-702, August.
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    Cited by:

    1. repec:kap:sbusec:v:48:y:2017:i:3:d:10.1007_s11187-016-9795-9 is not listed on IDEAS
    2. repec:kap:jtecht:v:42:y:2017:i:5:d:10.1007_s10961-016-9514-3 is not listed on IDEAS
    3. Rajeev K. Goel, 2006. "The Game Academics Play: Comment," Bulletin of Economic Research, Wiley Blackwell, vol. 58(1), pages 19-23, January.
    4. Rajeev Goel & Devrim Göktepe-Hultén & Rati Ram, 2015. "Academics’ entrepreneurship propensities and gender differences," The Journal of Technology Transfer, Springer, vol. 40(1), pages 161-177, February.
    5. Rajeev K. Goel & Devrim Göktepe-Hultén, 2018. "What drives academic patentees to bypass TTOs? Evidence from a large public research organisation," The Journal of Technology Transfer, Springer, vol. 43(1), pages 240-258, February.
    6. Shoji Haruna & Naoto Jinji & Xingyuan Zhang, 2010. "Patent citations, technology diffusion, and international trade: evidence from Asian countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 34(4), pages 365-390, October.
    7. Rajeev Goel & Christoph Grimpe, 2013. "Active versus passive academic networking: evidence from micro-level data," The Journal of Technology Transfer, Springer, vol. 38(2), pages 116-134, April.
    8. João Faria & Rajeev Goel, 2010. "Returns to networking in academia," Netnomics, Springer, vol. 11(2), pages 103-117, July.
    9. Joaquín Azagra-Caro, 2014. "Determinants of national patent ownership by public research organisations and universities," The Journal of Technology Transfer, Springer, vol. 39(6), pages 898-914, December.
    10. Mikko Mustonen, 2010. "The employment contract when the firm can utilize a free resource," Journal of Economics, Springer, vol. 99(3), pages 239-250, April.
    11. Roberto ESPOSTI, 2003. "Complementarita' innovative e tragedia degli anticommons. Il caso delle agrobiotecnologie," Working Papers 198, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    12. João Ricardo Faria & Rajeev K. Goel, 2016. "Academic Publication Uncertainty and Publishing Behavior: A Game-Theoretic Perspective," CESifo Working Paper Series 6176, CESifo Group Munich.
    13. Rajeev Goel & Devrim Göktepe-Hultén, 2013. "Nascent entrepreneurship and inventive activity: a somewhat new perspective," The Journal of Technology Transfer, Springer, vol. 38(4), pages 471-485, August.
    14. Jin Guo, 2015. "On the spillovers between patents and innovation in Japan," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(3), pages 590-605, July.
    15. Sotaro Shibayama, 2012. "Conflict between entrepreneurship and open science, and the transition of scientific norms," The Journal of Technology Transfer, Springer, vol. 37(4), pages 508-531, August.
    16. Rajeev K. Goel & João Ricardo Faria, 2007. "Proliferation Of Academic Journals: Effects On Research Quantity And Quality," Metroeconomica, Wiley Blackwell, vol. 58(4), pages 536-549, November.

    More about this item

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior


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