Read e-book online Creation and Transfer of Knowledge: Institutions and PDF

By Giorgio Barba Navaretti, Partha Dasgupta, Karl-Göran Mäler, Domenico Siniscalco

ISBN-10: 3642084087

ISBN-13: 9783642084089

ISBN-10: 3662037386

ISBN-13: 9783662037386

Is wisdom an financial strong? that are the features of the associations regulating the creation and diffusion of information? Cumulation of data is a key determinant of financial development, yet only in the near past wisdom has moved to the center of financial research. fresh literature additionally supplies profound insights into occasions like medical growth, creative and craft improvement which were infrequently addressed as socio-economic associations, being the area of sociologists and historians instead of economists. This quantity adopts a multidisciplinary method of deliver wisdom within the concentration of cognizance, as a key financial issue.

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Sample text

Instead, horizontal investments normally eoneern only one market, thus only part of the horne firm's revenues. In this eontext, the horne firm has a higher ineentive to eooperate in R&D, by disclosing as mueh knowledge and making as mueh effort as possible. At the same time, though, the value of the loeal knowledge ereated is higher (again, beeause it eoneerns the whole produetion proeess and not one single market). Thus, the eosts of the spillovers are larger. The trade off between these two effects.

These two trends may weIl be partially related. If a eountry tends to specialise in a given stage of produetion, we may at the same time expeet this country to develop related teehnological knowledge and R&D facilities. Unfortunately, the role of vertieal investments and their relationship to the geographie dispersion of R&D aetivity is a very under-developed area of researeh. To the best of our knowledge, the only paper that investigates loeation issues for a multinational firm with multiple produetion stages is the pioneering work by Casson, 1985.

Each firm's R&D generates positive spillovers to the other firm. Three different scenarios are compared: first, competition in R&D and in the product market (Cournot competition); second, co-operation in R&D (joint decision on the level of R&D expenditures) and competition in the product market; third, co-operation in both research and product market (the monopoly case). If spillovers are sufficiently large, co-operation in R&D increases the total research effort and profits. The monopoly will increase even further R&D effort and profits, as the rents generated by the innovation are fully captured by the two firms.

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Creation and Transfer of Knowledge: Institutions and Incentives by Giorgio Barba Navaretti, Partha Dasgupta, Karl-Göran Mäler, Domenico Siniscalco


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