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How and Why Does Knowledge Spill Over? The Case of Biotechnology

Author

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  • Audretsch, David B
  • Stephan, Paula E

Abstract

This paper sheds light on the questions, Why does knowledge spill over? and How does knowledge spill over? The answer to these questions lies in the incentives confronting scientists to appropriate the expected value of their knowledge considered in the context of their path-dependent career trajectories. In particular, we focus on the ability of scientists to appropriate the value of their knowledge embedded in their human capital along with the incentive structure influencing it and how scientists choose to commercialize their knowledge. We use a hazard model to estimate the duration over a scientist's career to starting a new biotechnology firm. We conclude that the spillover of knowledge from the source creating it, such as a university, research institute, or industrial corporation, to a new-firm start-up facilitates the appropriation of knowledge for the individual scientist(s) but not necessarily for the organization creating that knowledge.

Suggested Citation

  • Audretsch, David B & Stephan, Paula E, 1998. "How and Why Does Knowledge Spill Over? The Case of Biotechnology," CEPR Discussion Papers 1991, C.E.P.R. Discussion Papers.
  • Handle: RePEc:cpr:ceprdp:1991
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    Cited by:

    1. Audretsch, David B & Lehmann, Erik E, 2005. "Entrepreneurial Access and Absorption of Knowledge Spillovers: Strategic Board and Managerial Composition for Competitive Advantage," CEPR Discussion Papers 5335, C.E.P.R. Discussion Papers.
    2. Nicola Lacetera, 2003. "Incentives and spillovers in R&D activities: an agency-theoretic analysis of industry-university relations," Microeconomics 0312004, EconWPA.
    3. Anders Waxell, 2008. "Guilty by Association: A Cross-industrial Approach to Sourcing Complementary Knowledge in the Uppsala Biotechnology Cluster," European Planning Studies, Taylor & Francis Journals, vol. 17(11), pages 1605-1624, December.

    More about this item

    Keywords

    biotechnology; Entrepreneurship; Knowledge Spillovers; science; start-ups;

    JEL classification:

    • L0 - Industrial Organization - - General
    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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