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Creativity for invention insights: corporate strategies and opportunities for public entrepreneurship

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  • John T. Scott

    (Dartmouth College)

Abstract

This paper introduces and describes the invention-insight sample space and uses it to describe the creative process of discovering invention insights—the essential combinations of elements of knowledge to envision the basic working configurations of inventions, the working ideas for new technologies. Evidence about invention insights and about corporate strategies to promote them is viewed in the context of the paper’s description of the invention-insight discovery process. Then that description is used (1) to identify a novel new opportunity—initiation of policies to stimulate invention insights that directly combine unusually large numbers of knowledge elements—for public sector entrepreneurship to speed the pace of technological progress and the opening up of altogether new areas of science and technology, and (2) to delimit the appropriate form of policy—promotion of competition and the free exchange of ideas—to exploit the opportunity. With sufficient uncertainty in the search for insights, pre-invention-insight ideas in themselves should ideally be freed from the restrictions of intellectual property.

Suggested Citation

  • John T. Scott, 2016. "Creativity for invention insights: corporate strategies and opportunities for public entrepreneurship," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 43(4), pages 409-448, December.
    • Handle: RePEc:spr:epolin:v:43:y:2016:i:4:d:10.1007_s40812-016-0039-4
    DOI: 10.1007/s40812-016-0039-4
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    References listed on IDEAS

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    1. Philippe Aghion & Mathias Dewatripont & Julian Kolev & Fiona Murray & Scott Stern, 2016. "Of Mice and Academics: Examining the Effect of Openness on Innovation," PSE-Ecole d'économie de Paris (Postprint) halshs-01496928, HAL.
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    5. Fiona Murray & Philippe Aghion & Mathias Dewatripont & Julian Kolev & Scott Stern, 2016. "Of Mice and Academics: Examining the Effect of Openness on Innovation," American Economic Journal: Economic Policy, American Economic Association, vol. 8(1), pages 212-252, February.
    6. John Scott, 2009. "Competition in Research and Development: A Theory for Contradictory Predictions," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 34(2), pages 153-171, March.
    7. Avner Greif & Lynne Kiesling & John V. C. Nye, 2015. "Institutions, Innovation, and Industrialization: Essays in Economic History and Development," Economics Books, Princeton University Press, edition 1, number 10365.
    8. Scott,John T., 2005. "Purposive Diversification and Economic Performance," Cambridge Books, Cambridge University Press, number 9780521022583.
    9. Scott, John T. & Scott, Troy J., 2016. "The entrepreneur's idea and outside finance: Theory and evidence about entrepreneurial roles," European Economic Review, Elsevier, vol. 86(C), pages 118-130.
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    11. Martin L. Weitzman, 1998. "Recombinant Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 113(2), pages 331-360.
    12. Link, Albert N. & Scott, John T., 2011. "Research, Science, and Technology Parks: Vehicles for Technology Transfer," UNCG Economics Working Papers 11-22, University of North Carolina at Greensboro, Department of Economics.
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    19. Martin, Stephen & Scott, John T., 2000. "The nature of innovation market failure and the design of public support for private innovation," Research Policy, Elsevier, vol. 29(4-5), pages 437-447, April.
    20. Leyden, Dennis Patrick & Link, Albert N., 2015. "Public Sector Entrepreneurship: U.S. Technology and Innovation Policy," OUP Catalogue, Oxford University Press, number 9780199313853.
    21. Scott, John T, 1982. "Multimarket Contact and Economic Performance," The Review of Economics and Statistics, MIT Press, vol. 64(3), pages 368-375, August.
    22. Jhon T. Scott & Troy J. Scott, 2014. "Innovation rivalry: theory and empirics," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2014(1), pages 25-53.
    23. Albert N. Link & John T. Scott, 2007. "The economics of university research parks," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 23(4), pages 661-674, Winter.
    24. Cohen, Wesley M & Levinthal, Daniel A, 1989. "Innovation and Learning: The Two Faces of R&D," Economic Journal, Royal Economic Society, vol. 99(397), pages 569-596, September.
    25. Link, Albert N. & Siegel, Donald S. & Wright, Mike (ed.), 2015. "The Chicago Handbook of University Technology Transfer and Academic Entrepreneurship," University of Chicago Press Economics Books, University of Chicago Press, number 9780226178349, September.
    26. Peter B. Meyer, 2013. "The Airplane as an Open-Source Invention," Revue économique, Presses de Sciences-Po, vol. 64(1), pages 115-132.
    27. Ajay Bhaskarabhatla & Deepak Hegde, 2014. "An Organizational Perspective on Patenting and Open Innovation," Organization Science, INFORMS, vol. 25(6), pages 1744-1763, December.
    28. Albert Link & John Scott, 2002. "Explaining Observed Licensing Agreements: Toward a Broader Understanding of Technology Flows," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 11(3), pages 211-231.
    29. Marion B. Stewart, 1983. "Noncooperative Oligopoly and Preemptive Innovation without Winner-Take-All," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(4), pages 681-694.
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    Cited by:

    1. John T. Scott, 2023. "Research Diversity and Invention," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 62(2), pages 179-197, March.
    2. Troy J. Scott & John T. Scott & Albert N. Link, 2017. "Commercial complexity and entrepreneurial finance," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 26(5), pages 489-500, July.
    3. Link, Albert & Scott, John, 2018. "Geographic Proximity and Science Parks," UNCG Economics Working Papers 18-4, University of North Carolina at Greensboro, Department of Economics.

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