Markets for technology (why do we see them, why don't we see more of them and why we should care)

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dc.contributor.author Arora, Ashish
dc.contributor.author Fosfuri, Andrea
dc.contributor.author Gambardella, Alfonso
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Economía de la Empresa
dc.date.accessioned 2010-01-20T08:10:21Z
dc.date.available 2010-01-20T08:10:21Z
dc.date.issued 1999-02
dc.identifier.uri http://hdl.handle.net/10016/6520
dc.description.abstract This essay explores the nature, the functioning, and the economic and policy implications of markets for technology. Today, the outsourcing of research and development activities is more common than in the past, and specialized technology suppliers have emerged in many industries. In a sense, the Schumpeterian vision of integrating R&D with manufacturing and distribution is being confronted by the older Smithian vision of division of labor. The existence and efficacy of markets for technology can profoundly influence the creation and diffusion of new knowledge, and hence, economic growth of countries and the competitive position of companies. The economic and managerial literatures have touched upon some aspects of the nature of these markets. However, a thorough understanding of how markets for technology work is still lacking. In this essay we address two main questions. First, what are the factors that enable a market for technology to exist and function effectively? Specifically we look at the role of industry structure, the nature of knowledge, and intellectual property rights and related institutions. Second, we ask what the implications of such markets are for the boundaries of the firm, the specialization and division of labor in the economy, industry structure, and economic growth. We build on this discussion to develop the implications of our work for public policy and corporate strategy.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.relation.ispartofseries UC3M Working papers. Business Economics
dc.relation.ispartofseries 99-17-04
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Markets for technology
dc.subject.other Division of innovative labor
dc.subject.other Licensing
dc.subject.other Technology policy
dc.subject.other Patents
dc.subject.other R&D
dc.title Markets for technology (why do we see them, why don't we see more of them and why we should care)
dc.type workingPaper
dc.subject.eciencia Empresa
dc.rights.accessRights openAccess
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