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Creating a “Market for Inventions”: A Referee Model

Journal of Technology Management & Innovation

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Title Creating a “Market for Inventions”: A Referee Model
Creating a “Market for Inventions”: A Referee Model
Creating a “Market for Inventions”: A Referee Model
 
Creator Grimaldi, Gesualdo
 
Subject Errors, Ideas, Innovation, Invention, Knowledge,Technology Transfer.
 
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.
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.
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.
 
Publisher Facultad de Economía y Negocios, Universidad Alberto Hurtado
 
Contributor —
 
Date 2008-10-02
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Artículo revisado por pares
 
Format application/pdf
 
Identifier http://www.jotmi.org/index.php/GT/article/view/art85
10.4067/S0718-27242008000100004
 
Source Journal of Technology Management & Innovation; Vol 3, No 3 (2008); 33-44
Journal of Technology Management & Innovation; Vol 3, No 3 (2008); 33-44
0718-2724
 
Language eng
 
Relation http://www.jotmi.org/index.php/GT/article/view/art85/445
 
Rights Copyright (c) 2008 Journal of Technology Management & Innovation
http://creativecommons.org/licenses/by/4.0