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 particular, I sh...
| Main Author: | |
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| Format: | Article |
| Language: | English |
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Universidad Alberto Hurtado
2008-10-01
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| Series: | Journal of Technology Management & Innovation |
| Subjects: | |
| Online Access: | https://www.jotmi.org/index.php/GT/article/view/434 |
| _version_ | 1797848324259184640 |
|---|---|
| author | Gesualdo Grimaldi |
| author_facet | Gesualdo Grimaldi |
| author_sort | Gesualdo Grimaldi |
| collection | DOAJ |
| description | 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 behaviour and the possibility of expropriation of the new innovation renders the seller reluctant to 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 generate a surplus for the whole society. |
| first_indexed | 2024-04-09T18:26:43Z |
| format | Article |
| id | doaj.art-93f1531c7fc748458f9f7588e607e300 |
| institution | Directory Open Access Journal |
| issn | 0718-2724 |
| language | English |
| last_indexed | 2024-04-09T18:26:43Z |
| publishDate | 2008-10-01 |
| publisher | Universidad Alberto Hurtado |
| record_format | Article |
| series | Journal of Technology Management & Innovation |
| spelling | doaj.art-93f1531c7fc748458f9f7588e607e3002023-04-11T20:03:09ZengUniversidad Alberto HurtadoJournal of Technology Management & Innovation0718-27242008-10-013310.4067/S0718-27242008000100004433Creating a “Market for Inventions”: A Referee ModelGesualdo Grimaldi0University of CataniaThis 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 behaviour and the possibility of expropriation of the new innovation renders the seller reluctant to 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 generate a surplus for the whole society.https://www.jotmi.org/index.php/GT/article/view/434ErrorsIdeasInnovationInventionKnowledgeTechnology Transfer. |
| spellingShingle | Gesualdo Grimaldi Creating a “Market for Inventions”: A Referee Model Journal of Technology Management & Innovation Errors Ideas Innovation Invention Knowledge Technology Transfer. |
| title | Creating a “Market for Inventions”: A Referee Model |
| title_full | Creating a “Market for Inventions”: A Referee Model |
| title_fullStr | Creating a “Market for Inventions”: A Referee Model |
| title_full_unstemmed | Creating a “Market for Inventions”: A Referee Model |
| title_short | Creating a “Market for Inventions”: A Referee Model |
| title_sort | creating a market for inventions a referee model |
| topic | Errors Ideas Innovation Invention Knowledge Technology Transfer. |
| url | https://www.jotmi.org/index.php/GT/article/view/434 |
| work_keys_str_mv | AT gesualdogrimaldi creatingamarketforinventionsarefereemodel |