CREATING A "MARKET FOR INVENTIONS": A REFEREE MODEL
This article considers that the flow of new not patented innovations is difficult to occur among firms, especially when some inventions are caused by serendipity Here I develop a model to analyze the conditions for a "market for inventions" to exist. With the help of game theory in particu...
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| Autor principal: | |
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| Lenguaje: | English |
| Publicado: |
Universidad Alberto Hurtado. Facultad de Economía y Negocios
2008
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| Acceso en línea: | http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-27242008000100004 |
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| Sumario: | This article considers that the flow of new not patented innovations is difficult to occur among firms, especially when some inventions are caused by serendipity Here I develop a model to analyze the conditions for a "market for inventions" to exist. With the help of game theory in particular, I show that the creation of such a market is quite unlikely because unfair buyer's be-haviourand the possibility of expropriation of the new innovation renders the seller reluctantto negotiate with a potential buyer. So I argue for a solution that involves a third referenced party into the negotiation so that it can guarantee the flow of ideas among institutions and genérate a surplus for the whole society. |
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