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| Author: | Agrawal, A.K. Garlappi, L. |
| Title: | Public sector science and the strategy of the commons |
| Journal: | Economics of innovation and new technology
2007 : OCT-NOV, VOL. 16:7-8, p. 517-539 |
| Index terms: | technological innovation new products investments profitability public sector strategy research models |
| Freeterms: | intellectual property |
| Language: | eng |
| Abstract: | This paper models the conditions under which firms may purposefully create an intellectual property (IP) commons without firms having the incentive to invest in new product development, in spite of the potential profitability of a public sector invention. The strategy of spoiling incentives to innovate by eliminating exclusive IP rights, the strategy of the commons, is motivated by a fear of cannibalization (here as: cnnbln.) and supported by a credible threat. It is shown how the degree of potential cnnbln. is related to this market failure, characterizing the subgame perfect equilibrium in which the strategy of the commons is played. |
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