Details
| Original language | English |
|---|---|
| Pages (from-to) | 483-503 |
| Number of pages | 21 |
| Journal | International Journal of Industrial Organization |
| Volume | 23 |
| Issue number | 5-6 |
| Publication status | Published - Jun 2005 |
| Externally published | Yes |
Abstract
The paper offers a new theoretical framework to examine the role of intermediaries between creators and users of new inventions. We find that uncertainty about the profitability of investing in new inventions generates a basis for intermediation. An intermediary may provide an opportunity to economize on a critical component of efficient investment decisions-the expertise to sort 'profitable' from 'unprofitable' inventions. Our findings may help explain the surge in university patenting and licensing since the Bayh-Dole Act of 1980. The study also identifies several limitations to the potential efficiency of intermediation in innovation.
Keywords
- Innovation, Intermediation, Market microstructure, Matching, Patent licensing, Uncertainty
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Industrial relations
- Engineering(all)
- Aerospace Engineering
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
- Economics, Econometrics and Finance(all)
- Economics, Econometrics and Finance (miscellaneous)
- Business, Management and Accounting(all)
- Strategy and Management
- Engineering(all)
- Industrial and Manufacturing Engineering
Sustainable Development Goals
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In: International Journal of Industrial Organization, Vol. 23, No. 5-6, 06.2005, p. 483-503.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Intermediation in innovation
AU - Hoppe, Heidrun C.
AU - Ozdenoren, Emre
PY - 2005/6
Y1 - 2005/6
N2 - The paper offers a new theoretical framework to examine the role of intermediaries between creators and users of new inventions. We find that uncertainty about the profitability of investing in new inventions generates a basis for intermediation. An intermediary may provide an opportunity to economize on a critical component of efficient investment decisions-the expertise to sort 'profitable' from 'unprofitable' inventions. Our findings may help explain the surge in university patenting and licensing since the Bayh-Dole Act of 1980. The study also identifies several limitations to the potential efficiency of intermediation in innovation.
AB - The paper offers a new theoretical framework to examine the role of intermediaries between creators and users of new inventions. We find that uncertainty about the profitability of investing in new inventions generates a basis for intermediation. An intermediary may provide an opportunity to economize on a critical component of efficient investment decisions-the expertise to sort 'profitable' from 'unprofitable' inventions. Our findings may help explain the surge in university patenting and licensing since the Bayh-Dole Act of 1980. The study also identifies several limitations to the potential efficiency of intermediation in innovation.
KW - Innovation
KW - Intermediation
KW - Market microstructure
KW - Matching
KW - Patent licensing
KW - Uncertainty
UR - http://www.scopus.com/inward/record.url?scp=20544439010&partnerID=8YFLogxK
U2 - 10.1016/j.ijindorg.2005.03.003
DO - 10.1016/j.ijindorg.2005.03.003
M3 - Article
AN - SCOPUS:20544439010
VL - 23
SP - 483
EP - 503
JO - International Journal of Industrial Organization
JF - International Journal of Industrial Organization
SN - 0167-7187
IS - 5-6
ER -