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Incentives for knowledge production with many producers

Author

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  • Bronwyn Hall

Abstract

In this paper, I briefly review the motivations for inventive behavior and describe two common incentive systems that harness and encourage such behavior. This review of well-trodden ground is performed only so that the implications of the rise of the networked knowledge economy for the effectiveness of these incentive systems can be noted. Some theoretical results on the operation and stability of the two incentive systems for the production of knowledge are presented with a discussion of how they might apply in the networked economy. The paper concludes with suggestions on open research questions.

Suggested Citation

  • Bronwyn Hall, 2004. "Incentives for knowledge production with many producers," Working Papers wp292, Centre for Business Research, University of Cambridge.
  • Handle: RePEc:cbr:cbrwps:wp292
    Note: PRO-2
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    File URL: https://www.cbr.cam.ac.uk/fileadmin/user_upload/centre-for-business-research/downloads/working-papers/wp292.pdf
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    References listed on IDEAS

    as
    1. James J. Anton & Dennis A. Yao, 2002. "The Sale of Ideas: Strategic Disclosure, Property Rights, and Contracting," Review of Economic Studies, Oxford University Press, vol. 69(3), pages 513-531.
    2. Alfonso GAMBARDELLA & Bronwyn H. HALL, 2004. "Propriety vs. Public Domain Licensing of Software and Research Products," Economics Working Papers ECO2004/15, European University Institute.
    3. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters,in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
    4. Nicolas Carayol, 2007. "Academic Incentives, Research Organization And Patenting At A Large French University," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 16(2), pages 119-138.
    5. Lerner, Josh, 1995. "Patenting in the Shadow of Competitors," Journal of Law and Economics, University of Chicago Press, vol. 38(2), pages 463-495, October.
    6. Stephan, Paula E., 2010. "The Economics of Science," Handbook of the Economics of Innovation, Elsevier.
    7. Allen, Robert C., 1983. "Collective invention," Journal of Economic Behavior & Organization, Elsevier, vol. 4(1), pages 1-24, March.
    8. Owen-Smith, Jason & Powell, Walter W, 2001. "To Patent or Not: Faculty Decisions and Institutional Success at Technology Transfer," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 99-114, January.
    9. Suzanne Scotchmer, 1991. "Standing on the Shoulders of Giants: Cumulative Research and the Patent Law," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 29-41, Winter.
    10. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297-297.
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    Cited by:

    1. Stephen M. Maurer & Suzanne Scotchmer, 2006. "Open Source Software: The New Intellectual Property Paradigm," NBER Working Papers 12148, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    patents; market value; information technology; appropriability;

    JEL classification:

    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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