Artículos de revistas
CREATING A "MARKET FOR INVENTIONS": A REFEREE MODEL
Autor
Grimaldi,Gesualdo
Institución
Resumen
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 be-haviourand the possibility of expropriation of the new innovation renders the seller reluctantto 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 genérate a surplus for the whole society.