Transaction costs, externalities and innovation
There is now considerable evidence on the value of using external resources to promote the development of innovative technologies. Furthermore, the ability to experience innovations in business by external links that may help to avoid risk, improve the quality of natural products, which means qualifying business activities and promote companies capable of rationalizing and projecting high yields. This paper provides an approach from the transaction cost theory of Ronald Coase, in particular, provides preconditions to estimate the specific market of biotechnology.
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- Robert W. Hahn & Richard L. Schmalensee & Roger Noll & Robert Stavins & Lester B. Lave & George C. Eads & Milton Russell & V. Kerry Smith & Maureen L. Cropper & Paul R. Portney & Kenneth J. Arrow, 1996. "Benefit-Cost Analysis in Environmental, Health, and Safety Regulation," Books, American Enterprise Institute, number 51790.
- R. H. Coase, 1935. "The Problem of Duopoly Reconsidered," Review of Economic Studies, Oxford University Press, vol. 2(2), pages 137-143.
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