Abstract
Several streams of literature have examined the phenomenon of “markets for inventions”, that is, the trade of elements of knowledge which are “disembodied” from individuals, organizations, and products. The aims of this paper are to bring together the various streams of research in this area and discuss their major assumptions and limitations, in order to provide a comprehensive framework for understanding the phenomenon, and identify promising paths for future research. We start our review by identifying the object of market exchange—that is, an invention whose knowledge has been codified and disembodied from individuals, organizations, or artifacts. We then identify those factors that enable firms to trade inventions, distinguishing between institutional-, firm-, and industry-level factors. We close our analysis of the extant literature by discussing the implications of markets for inventions for firm behavior and performance. Against this background, we highlight an important avenue for future research. A neglected implication of the development of invention markets is that firms are confronted with a wide variety of technological paths from which to choose, because the opportunity to acquire technologies on the market offers them a greater variety that can their internal R&D departments. However, the streams of research on markets for inventions and on R&D allocation strategies have been surprisingly disconnected so far. Hence, in the final section, we start to establish and explore the link between these literatures, and to identify a research agenda in this domain.
References
- 2009. Modes of cooperative R&D commercialization by start-ups. Strategic Management Journal, 30: 835–864. (doi:10.1002/smj.765) Google Scholar
- 2010. Open versus closed innovation: A model of discovery and divergence. Academy of Management Review, 35(1): 27–47. (doi:10.5465/AMR.2010.45577790)Abstract , Google Scholar
- 2000. The structure of licensing contracts. Review of Industrial Organization, 48(1): 103–134. Google Scholar
- 1994. Expropriation and inventions: Appropriable rents in the absence of property rights. American Economic Review, 84(1): 190–209. Google Scholar
- 1995. Licensing tacit knowledge: Intellectual property rights and the market for know-how. Economics of Innovation and New Technology, 4: 41–59. (doi:10.1080/10438599500000013) Google Scholar
- 1996. Contracting for tacit knowledge: The provision of technical services in technology licensing contracts. Journal of Development Economics, 50(2): 233–256. (doi:10.1016/S0304-3878(96)00399-9) Google Scholar
- 2006. Patent protection, complementary assets, and firms’ incentives for technology licensing. Management Science, 52(2): 293–308. (doi:10.1287/mnsc.1050.0437) Google Scholar
- 2003. Licensing the market for technology. Journal of Economic Behavior and Organization, 52: 277–295. (doi:10.1016/S0167-2681(03)00002-7) Google Scholar
- 2000. Specialized technology suppliers, international spillovers and investment: Evidence from the chemical. Journal of Development Economics, 65(1): 31–54. (doi:10.1016/S0304-3878(01)00126-2) Google Scholar
- 2001. Markets for technology: The economics of innovation and corporate strategy, Cambridge, MA: MIT Press. Google Scholar
- forthcoming. Managing licensing in a market for technology. Management Science, 59(5) Google Scholar
- 1990. Complementarity and external linkages: The strategies of the large firms in biotechnology. Journal of Industrial Economics, 38(4): 361–379. (doi:10.2307/2098345) Google Scholar
- 1994a. The changing technology of technical change: General and abstract knowledge and the division of innovative labour. Research Policy, 23(5): 523–532. (doi:10.1016/0048-7333(94)01003-X) Google Scholar
- 1994b. Evaluating technological information and utilizing it: Scientific knowledge, technological capability, and external linkages in biotechnology. Journal of Economic Behavior & Organization, 24(1): 91–114. (doi:10.1016/0167-2681(94)90055-8) Google Scholar
- 2012. Insecure advantage? Markets for technology and the value of resources for entrepreneurial ventures. Strategic Management Journal, 33(3): 221–251. (doi:10.1002/smj.953) Google Scholar
- 1962. “Economics welfare and the allocation of resources for invention”. In The rate and direction of inventive activity, Edited by: Nelson R. 164–181. Princeton, NJ: Princeton University Press. Google Scholar
- 1983. “Innovation in large and small firms”. In Entrepreneurship, Edited by: Ronen J. 15–28. Lexington, MA: Lexington Books. Google Scholar
- 2000. Design rules, volume 1, the power of modularity, Cambridge, MA: MIT Press. Google Scholar
- 2011. Modeling a paradigm shift: From producer innovation to user and open collaborative innovation. Organization Science, 22(6): 1399–1417. (doi:10.1287/orsc.1100.0618) Google Scholar
- 1996. Competitive dynamics of interfirm rivalry. Academy of Management Journal, 39(2): 255–291. (doi:10.2307/256781)Abstract , Google Scholar
- 2008. Academic entrepreneurs: Organizational change at the individual level. Organization Science, 19: 69–89. (doi:10.1287/orsc.1070.0295) Google Scholar
- 1990. Multimarket contact and collusive behavior. Rand Journal of Economics, 21(1): 1–26. (doi:10.2307/2555490) Google Scholar
- 1973. The pricing of options and corporate liabilities. The Journal of Political Economy, 81(3): 637–654. (doi:10.1086/260062) Google Scholar
- 2011. Incentives and problem uncertainty in innovation contests: An empirical analysis. Management Science, 57(5): 843–863. (doi:10.1287/mnsc.1110.1322) Google Scholar
- 1998. “The division of inventive labor and the extent of the market”. In General-Purpose technologies and economic growth, Edited by: Helpman E. 253–281. Cambridge, MA: MIT Press. Google Scholar
- 2011. Patterns of modularization: The dynamics of product architecture in complex systems. European Management Review, 8(2): 67–80. (doi:10.1111/j.1740-4762.2011.01010.x) Google Scholar
- 2006. In search of complementarity in innovation strategy: Internal R&D, cooperation in R&D and external technology acquisition. Management Science, 52(1): 68–82. (doi:10.1287/mnsc.1050.0470) Google Scholar
- 1984. Economic analysis and the quest for competitive advantage. American Economic Review, 74(2): 127–132. Google Scholar
- 1983. The imperfect market for technology licensing. Oxford Bulletin of Economics and Statistics, 45(3): 249–267. (doi:10.1111/j.1468-0084.1983.mp45003002.x) Google Scholar
- 2013. The cost of integrating external technologies: Supply and demand drivers of value creation in the markets for technology. Strategic Management Journal, 34(4): 404–425. (doi:10.1002/smj.2020) Google Scholar
- 2012. Competitive dynamics: Themes, trends, and a prospective research platform. Academy of Management Annals, 6(1): 135–210. (doi:10.1080/19416520.2012.660762)Abstract , Google Scholar
- 2003. Open innovation: The new imperative for creating and profiting from technology, Boston, MA: Harvard Business School Press. Google Scholar
- 2006a. “New puzzles and new findings”. In Open innovation: Researching a new paradigm, Edited by: Chesbrough H.Vanhaverbeke W.West J. 15–34. Oxford: Oxford University Press. Google Scholar
- 2006b. “Open innovation: A new paradigm for understanding industrial innovation”. In Open innovation: Researching a new paradigm, Edited by: Chesbrough H.Vanhaverbeke W.West J. 1–12. Oxford: Oxford University Press. Google Scholar
- 2007. Open innovation and strategy. California Management Review, 50(1): 57–76. (doi:10.2307/41166416) Google Scholar
- 2006. Beyond high tech: Early adopters of open innovation in other industries. R&D Management, 36(3): 229–236. Google Scholar
- Chesbrough, H., & Rosenbloom, R.S. (2002). The role of the business model in capturing value from innovation: Evidence from Xerox Corporation's technology spin-off companies. Industrial and Corporate Change, 11(3), 529–555. Google Scholar
- 2006. Open innovation: Researching a new paradigm, Edited by: Chesbrough H.Vanhaverbeke W.West J. Oxford: Oxford University Press. Google Scholar
- 1996. Scale, scope, and spillovers: Determinants of research productivity in the pharmaceutical industry. RAND Journal of Economics, 27(1): 32–59. (doi:10.2307/2555791) Google Scholar
- 1989. Innovation and learning: The two faces of R&D. Economic Journal, 99: 569–596. (doi:10.2307/2233763) Google Scholar
- 1990. Absorptive capacity: A new perspective on learning and innovation. Administrative Science Quarterly, 35: 128–152. (doi:10.2307/2393553) Google Scholar
- 2001. Is the tendency to variation a chief cause of progress?. Industrial and Corporate Change, 10(3): 587–608. (doi:10.1093/icc/10.3.587) Google Scholar
- Cohen, W.M., Nelson, R.R., & Walsh, J.P. (2000). Protecting their intellectual assets: Appropriability conditions and why U.S. manufacturing firms patent (or not) (NBER Working Paper No. 7552). Cambridge, MA: NBER. Google Scholar
- 1981. International technology licensing: Compensation, costs, and negotiation, Lexington, MA: Lexington Books. Google Scholar
- 1978. A dual-core model of organizational innovation. Academy of Management Journal, 21(2): 193–210. (doi:10.2307/255754)Abstract , Google Scholar
- 2001. An extreme-value model of concept testing. Management Science, 47(1): 102–116. (doi:10.1287/mnsc.47.1.102.10666) Google Scholar
- 1994. Investment under uncertainty, Princeton, NJ: Princeton University Press. Google Scholar
- 2006. The role of technology in the shift towards open innovation: The case of Procter & Gamble. R&D Management, 36(3): 333–346. Google Scholar
- 2011. Is there an e-Bay for ideas? Insights from online knowledge marketplaces. European Management Review, 8(1): 17–32. (doi:10.1111/j.1740-4762.2010.01002.x) Google Scholar
- 1998. The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Academy of Management Review, 23: 660–679.Link , Google Scholar
- 2012. All experience is not created equal: Learning, adapting and focusing in product portfolio management. Strategic Management Journal, 33(3): 315–335. (doi:10.1002/smj.956) Google Scholar
- 2008. Norms-based intellectual property systems: The case of French chefs. Organization Science, 19(2): 187–201. (doi:10.1287/orsc.1070.0314) Google Scholar
- 2004. Entry in the presence of dueling options. Strategic Management Journal, 25(2): 121–138. (doi:10.1002/smj.368) Google Scholar
- 2008. Understanding the inputs into innovation: Do cities substitute for internal firm resources?. Journal of Management and Strategy, 17(2): 295–316. Google Scholar
- 2006. The licensing Dilemma: Understanding the determinants of the rate of technology licensing. Strategic Management Journal, 27(12): 1141–1158. (doi:10.1002/smj.562) Google Scholar
- 2003. Satisfying heterogeneous user needs via innovation toolkits: The case of Apache security software. Research Policy, 32(7): 1199–1215. (doi:10.1016/S0048-7333(03)00049-0) Google Scholar
- 2003. How communities support innovative activities: An exploration of assistance and sharing among end-users. Research Policy, 32(1): 157–178. (doi:10.1016/S0048-7333(02)00006-9) Google Scholar
- Galasso, A., Schankerman, M., & Serrano, C.J. (2011). Trading and enforcing patent rights (NBER Working Paper 17367). Cambridge, MA: NBER. Google Scholar
- 1984. Deterrence through market sharing: A strategic incentive for licensing. American Economic Review, 74(5): 931–941. Google Scholar
- 2013. General technologies, product-market fragmentation and the market for technology. Research Policy, 42(2): 315–325. (doi:10.1016/j.respol.2012.08.002) Google Scholar
- 2007. The market for patents in Europe. Research Policy, 36(8): 1163–1183. (doi:10.1016/j.respol.2007.07.006) Google Scholar
- 2010. Business-model innovation, general purpose technologies, specialization and industry change. Long Range Planning, 43: 262–271. (doi:10.1016/j.lrp.2009.07.009) Google Scholar
- 2002. When does start-up innovation spur the gale of creative destruction?. RAND Journal of Economics, 33(4): 571–586. (doi:10.2307/3087475) Google Scholar
- 2008. The impact of uncertain intellectual property rights on the market for ideas: Evidence from patent grant delays. Management Science, 54(5): 982–997. (doi:10.1287/mnsc.1070.0814) Google Scholar
- 2000. Incumbency and R&D incentives: Licensing the gale of creative destruction. Journal of Economics and Management Strategy, 9(4): 485–511. (doi:10.1162/105864000567945) Google Scholar
- 2003. The product market and the market for ideas: Commercialization strategies for technology entrepreneurs. Research Policy, 32(2): 333–350. (doi:10.1016/S0048-7333(02)00103-8) Google Scholar
- 1994. Transformative capacity: Continual structuring by inter-temporal technology transfer. Strategic Management Journal, 15: 365–385. (doi:10.1002/smj.4250150504) Google Scholar
- 1984. Capacity expansion in the titanium dioxide industry. Journal of Industrial Economics, 33(2): 145–163. (doi:10.2307/2098506) Google Scholar
- 1991. Commitment: The dynamic of strategy, New York: Free Press. Google Scholar
- 1996. Hypercompetition in a multimarket environment: The role of strategic similarity and multimarket contact on competitive de-escalation. Organization Science, 7(3): 322–341. (doi:10.1287/orsc.7.3.322) Google Scholar
- 1999. Multimarket contact, economies of scope, and firm performance. Academy of Management Journal, 42(3): 239–259. (doi:10.2307/256917)Link , Google Scholar
- 1995. On the division of profit in sequential innovation. RAND Journal of Economics, 26(1): 20–33. (doi:10.2307/2556033) Google Scholar
- forthcoming. Small firms, big patents? Estimating patent value using data on Israeli start-ups’ financing rounds. European Management Review, 10(2) Google Scholar
- 2011. Institutional complexity and organizational responses. Academy of Management Annals, 5(1): 317–371. (doi:10.1080/19416520.2011.590299)Link , Google Scholar
- 1997. Managing intellectual capital: Licensing and cross-licensing in semiconductors and electronics. California Management Review, 39: 8–41. (doi:10.2307/41165885) Google Scholar
- 2006. New ventures based on open innovation—An empirical analysis of start-up firms in embedded Linux. International Journal of Technology Management, 33(4): 356–372. (doi:10.1504/IJTM.2006.009249) Google Scholar
- 1998. The architecture of cooperation: Managing coordination costs and appropriation concerns in strategic alliances. Administrative Science Quarterly, 43: 781–814. (doi:10.2307/2393616) Google Scholar
- 2001. The patent paradox revisited: An empirical study of patenting in the U.S. semiconductor Industry, 1979–1995. Rand Journal of Economics, 32(1): 101–128. (doi:10.2307/2696400) Google Scholar
- 1997. Technology brokering and innovation in a product development firm. Administrative Science Quarterly, 42(4): 716–749. (doi:10.2307/2393655) Google Scholar
- 2006. Selective revealing in open innovation processes: The case of embedded Linux. Research Policy, 35(7): 953–969. (doi:10.1016/j.respol.2006.04.010) Google Scholar
- 1992. Strategies for exploiting technological innovations: When and when not to license. Organization Science, 3(3): 428–441. (doi:10.1287/orsc.3.3.428) Google Scholar
- 2010. “Users as sources of invention (Chapter 9)”. In Handbook of economics of technological change, Edited by: Hall B. H.Rosenberg N. 411–425. New York: Elsevier B.V. Google Scholar
- 1979. Analysis of innovation in automated clinical chemistry analyzers. Science and Public Policy, 6(1): 24–37. Google Scholar
- 2003. Open source software and the “private-collective” innovation model: Issues for organization science. Organization Science, 14(2): 209–223. (doi:10.1287/orsc.14.2.209.14992) Google Scholar
- 2006. Do modular products lead to modular products?. Strategic Management Journal, 27: 501–518. (doi:10.1002/smj.528) Google Scholar
- 1989. Agency costs and innovation. Journal of Economic Behavior & Organization, 12(3): 305–327. (doi:10.1016/0167-2681(89)90025-5) Google Scholar
- 2001. Project management under risk: Using the real options approach to evaluate flexibility in R&D. Management Science, 47(1): 85–101. (doi:10.1287/mnsc.47.1.85.10661) Google Scholar
- 1993. Network centrality, power, and innovation involvement: Determinants of technical and administrative roles. Academy of Management Journal, 36(3): 471–501. (doi:10.2307/256589)Link , Google Scholar
- 1976. Theory of the firm, managerial behavior, agency costs, and ownership structure. Journal of Financial Economics, 3(4): 305–360. (doi:10.1016/0304-405X(76)90026-X) Google Scholar
- 2008. Framing contests: Strategy making under uncertainty. Organization Science, 19(5): 729–752. (doi:10.1287/orsc.1070.0340) Google Scholar
- 2008. Thinking about technology: Applying a cognitive lens to technical change. Research Policy, 37(5): 790–805. (doi:10.1016/j.respol.2008.02.002) Google Scholar
- 1985. Multipoint competition. Strategic Management Journal, 6: 87–96. (doi:10.1002/smj.4250060107) Google Scholar
- 1994. Systems competition and network effects. The Journal of Economic Perspectives, 8(2): 93–115. (doi:10.1257/jep.8.2.93) Google Scholar
- 1982. Investigating the not invented here (NIH) syndrome: A look at the performance, tenure, and communication patterns of 50 R&D project groups. R&D Management, 12(1): 7–19. Google Scholar
- 1992. Knowledge of the firm, combinative capabilities, and the replication of technology. Organization Science, 3(2): 383–397. (doi:10.1287/orsc.3.3.383) Google Scholar
- 1990. Assessing the political landscape: Structure, cognition, and power in organizations. Administrative Science Quarterly, 35: 342–369. (doi:10.2307/2393394) Google Scholar
- 2006. Impact of licensing on investment and financing of technology development. Management Science, 52(12): 1824–1837. (doi:10.1287/mnsc.1060.0589) Google Scholar
- 1998. Strategic growth options. Management Science, 44(8): 1021–1031. (doi:10.1287/mnsc.44.8.1021) Google Scholar
- 2003. How open source software works: “Free” user-to-user assistance. Research Policy, 32(6): 923–943. (doi:10.1016/S0048-7333(02)00095-1) Google Scholar
- 2002. Modularity in technology and organization. Journal of Economic Behavior & Organization, 49(1): 19–37. (doi:10.1016/S0167-2681(02)00056-2) Google Scholar
- 2010. Technological exploration through licensing: New insights from the licensee's point of view. Industrial and Corporate Change, 19(3): 871–897. (doi:10.1093/icc/dtq034) Google Scholar
- 2006. Open for innovation: The role of openness in explaining innovation performance among UK manufacturing firms. Strategic Management Journal, 27(2): 131–150. (doi:10.1002/smj.507) Google Scholar
- 2011. Location, decentralization, and knowledge sources for innovation. Organization Science, 22(3): 641–658. (doi:10.1287/orsc.1100.0526) Google Scholar
- 2012. Licensing fosters rapid innovation! The effect of the grant-back clause and technological unfamiliarity. Strategic Management Journal, 33(8): 965–985. (doi:10.1002/smj.1950) Google Scholar
- 1987. Appropriating the returns from industrial research and development. Brookings Papers on Economic Activity, 3: 783–831. (doi:10.2307/2534454) Google Scholar
- 2008. Friends, acquaintances or strangers? Partner selection in R&D alliances. Academy Management Journal, 51(2): 315–334. (doi:10.5465/AMJ.2008.31767271)Abstract , Google Scholar
- Lim, K. (2000). The many faces of absorptive capacity: Spillovers of copper interconnect technology for semiconductor chips (Working Paper No. 4110). Cambridge, MA: MIT Sloan School of Management. Google Scholar
- Lin, L., & Kulatilaka, N. (2007). Strategic growth options in network industries. Advances in Strategic Management, 24, 181–203. Google Scholar
- 2001. Parallel and sequential testing of design alternatives. Management Science, 47(5): 663–678. (doi:10.1287/mnsc.47.5.663.10480) Google Scholar
- 1997. Technological regimes and sectoral patterns of innovative activities. Industrial and Corporate Change, 6(1): 83–118. (doi:10.1093/icc/6.1.83) Google Scholar
- 2005. Fast second: How smart companies bypass radical innovation to enter and dominate new markets, San Francisco, CA: Jossey–Bass. Google Scholar
- 1986. The value of waiting to invest. Quarterly Journal of Economics, 101(4): 707–727. (doi:10.2307/1884175) Google Scholar
- 2006. Profiting from technological innovation by others: The effect of competitor patenting on firm value. Research Policy, 35(8): 1222–1242. (doi:10.1016/j.respol.2006.09.006) Google Scholar
- 1997. A real options logic for initiating technology positioning investments. Academy of Management Review, 22(4): 974–996.Link , Google Scholar
- 2003. Valuing internal versus external knowledge: Explaining the preference for outsiders. Management Science, 49(4): 497–513. (doi:10.1287/mnsc.49.4.497.14422) Google Scholar
- 1973. The sociology of science: Theoretical and empirical investigations, Chicago, IL: University of Chicago Press. Google Scholar
- 2000. Determinants of user innovation and innovation sharing in a local market. Management Science, 46(12): 1513–1527. (doi:10.1287/mnsc.46.12.1513.12076) Google Scholar
- 1982. “The influence of market demand upon innovation: A critical review of some recent empirical studies”. In Inside the black box: Technology and economics, Edited by: Rosenberg N. 193–242. Cambridge: Cambridge University Press. Google Scholar
- 1961. Uncertainty, learning, and the economics of parallel research and development. Review of Economics and Statistics, 43(4): 351–368. (doi:10.2307/1927475) Google Scholar
- 1982. An evolutionary theory of economic change, Cambridge, MA: Belknap Press. Google Scholar
- Nonaka, I. (1991, November–December). The knowledge-creating company. Harvard Business Review, pp. 96–104. Google Scholar
- 1997. Towards an attention-based view of the firm. Strategic Management Journal, 18(1): 187–206. (doi:10.1002/(SICI)1097-0266(199707)18:1+<187::AID-SMJ936>3.3.CO;2-B) Google Scholar
- 1990. Governing the commons, Cambridge: Cambridge University Press. Google Scholar
- 1990. The R&D boundaries of the firm: An empirical analysis. Administrative Science Quarterly, 35: 153–176. (doi:10.2307/2393554) Google Scholar
- 1993. A status-based model of market competition. The American Journal of Sociology, 98(4): 829–872. (doi:10.1086/230091) Google Scholar
- 2002. Do formal contracts and relational governance function as substitutes or complements?. Strategic Management Journal, 23: 707–725. (doi:10.1002/smj.249) Google Scholar
- 1980. Competitive strategy, New York: Free Press. Google Scholar
- 1985. Competitive advantage, New York: Free Press. Google Scholar
- 1999. Regulating scientific research: Intellectual property rights and the norms of science. Northwestern University Law Review, 94(1): 77–152. Google Scholar
- 1999. The cathedral and the bazaar: Musings on Linux and open source by an accidental revolutionary, Sebastopol, CA: O'Reilly. Google Scholar
- 2000. Discovering new value in intellectual property. Harvard Business Review, 78(1): 54–66. Google Scholar
- 1990. Choosing the competition and patent licensing. RAND Journal of Economics, 21(1): 161–171. (doi:10.2307/2555501) Google Scholar
- 1996. “Uncertainty and technological change”. In The mosaic of economic growth, Edited by: Landau R.Taylor T.Wright G. 334–353. Stanford, CA: Stanford University Press. Google Scholar
- 1994. Benefits of narrow business strategies. The American Economic Review, 84(5): 1330–1349. Google Scholar
- 2002. Connect and develop complements research and develop at P&G. Research-Technology Management, 45(2): 38–45. Google Scholar
- 1996. Modularity, flexibility, and knowledge management in product and organization design. Strategic Management Journal, 7: 63–76. Google Scholar
- 1980. Industrial market structure and economic performance, Boston, MA: Houghton Mifflin. Google Scholar
- 2000. Towards a general modular systems theory and its application to interfirm product modularity. Academy of Management Review, 25(2): 312–334.Abstract , Google Scholar
- 2002. Disentangling the theories on firm boundaries: A path model and empirical test. Organization Science, 13(4): 387–401. (doi:10.1287/orsc.13.4.387.2950) Google Scholar
- 1991. Standing on the shoulders of giants: Cumulative research and the patent law. Journal of Economic Perspectives, 5(1): 29–41. (doi:10.1257/jep.5.1.29) Google Scholar
- 2012. Estimating the gains from trade in the market for innovation: Evidence from the transfer of patents. (NBER Working Papers 17304). Cambridge, MA: National Bureau of Economic Research Google Scholar
- 2002. Selling university technology: Patterns from MIT. Management Science, 48(1): 122–138. (doi:10.1287/mnsc.48.1.122.14281) Google Scholar
- 2003. The halo effect and technology licensing: The influence of institutional prestige on the licensing of university innovations. Management Science, 49(4): 478–496. (doi:10.1287/mnsc.49.4.478.14416) Google Scholar
- 2011. Exclusivity in licensing alliances: Using hostages to support technology commercialization. Strategic Management Journal, 32(2): 159–186. (doi:10.1002/smj.883) Google Scholar
- 1979. Investment strategy and growth in a new market. Bell Journal of Economics, 10(1): 1–19. (doi:10.2307/3003316) Google Scholar
- 1996. The economics of science. Journal of Economic Literature, American Economic Association, 34(3): 1199–1235. Google Scholar
- 2004. Do scientists pay to be scientists?. Management Science, 50(6): 835–853. (doi:10.1287/mnsc.1040.0241) Google Scholar
- 1998. Technology and market structure, Cambridge, MA: MIT Press. Google Scholar
- 1986. Profiting from technological innovation. Research Policy, 15(6): 285–305. (doi:10.1016/0048-7333(86)90027-2) Google Scholar
- 1998. Capturing value from knowledge assets: The new economy, markets for know-how, and intangible assets. California Management Review, 3: 55–79. (doi:10.2307/41165943) Google Scholar
- 2002. Customers as innovators: A new way to create value. Harvard Business Review, 80(4): 74–81. Google Scholar
- 2008. Scanning the commons? Evidence on the benefits to start-ups participating in open standards development. Management Science, 55(2): 210–223. (doi:10.1287/mnsc.1080.0944) Google Scholar
- West, J. (2006). Does appropriability enable or retard open innovation? In H. Chesbrough, W. Vanhaverbeke, & J. West (Eds.), Open innovation: researching a new paradigm (pp. 109–133). Oxford: Oxford University Press. Google Scholar
- 1989. “Transaction cost economics”. In Handbook of industrial organization, Edited by: Schmalensee R.Willig R. 135–182. Amsterdam: North Holland. Google Scholar
- 1987. “Knowledge and competence as strategic assets”. In The competitive challenge: Strategies for industrial innovation and renewal, Edited by: Teece D. J. 159–184. New York: Harper and Row. Google Scholar