Download or read book Innovation and Incentives written by Suzanne Scotchmer and published by MIT Press. This book was released on 2006-08-11 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in intellectual property and other institutions that promote innovation exploded during the 1990s. Innovation and Incentives provides a clear and wide-ranging introduction to the economics of innovation, suitable for teaching at both the advanced undergraduate and graduate levels. It will also be useful to legal and economics professionals. Written by an expert on intellectual property and industrial organization, the book achieves a balanced mix of institutional details, examples, and theory. Analytical, empirical, or institutional factors can be given different emphases at different levels of study. Innovation and Incentives presents the historical, legal, and institutional contexts in which innovation takes place. After a historical overview of the institutions that support innovation, ranging from ancient history through today's government funding and hybrid institutions, the book discusses knowledge as a public good, the economic design of intellectual property, different models of cumulative innovation, the relation of competition to licensing and joint ventures, patent and copyright enforcement and litigation, private/public funding relationships, patent values and the return on R&D investment, intellectual property issues arising from direct and indirect network externalities, and globalization. The text presents technical and abstract analysis and at the same time sheds light on current controversies and policy-relevant topics, including the difficulty of enforcing copyright in the digital age and international protection of intellectual property.

Download or read book Technological Innovation and Prize Incentives written by Luciano Kay and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: ÔThe recent renaissance in the use of prizes to spur innovation and extraordinary novel performance warrants close attention. Luciano Kay does so through a series of compelling case studies which shows the potential of prizes, the range of factors that influence their performance and the importance of understanding their non-pecuniary dimensions, even when there is a substantial purse. This is an important contribution to the innovation literature.Õ Ð David J. Teece, University of California, Berkeley, US ÔIn the last decade innovation prizes have caught the imagination of policy makers and rich donors alike; those who actually care about the process and outcome of prizes and not only the hype, would do well to read LucianoÕs new book.Õ Ð Dan (Danny) Breznitz, Georgia Institute of Technology, US Inducement prizes Ð in which cash rewards are offered to motivate the attainment of specific targets Ð have long been used to stimulate scientific discovery and technology research and development. This volume presents an empirical investigation of the effect of these prizes on innovation. In this in-depth study, Luciano Kay focuses on three recent cases of prize competitions in the aerospace industry: the Google Lunar X Prize, the Ansari X Prize and the Northrop Grumman Lunar Lander Challenge. Using a combination of real-time and historical analysis based on personal interviews, workplace visits and questionnaire and document data analysis, the author examines the particular dynamics of the prize phenomenon and offers a comprehensive discussion of the potential of prizes to induce innovation. This fascinating volume also sets out a systematic method to studying prize incentives, offering a concrete innovation model and case study design approach that will prove highly useful to further research efforts in the field. Scholars, policymakers and corporate officials interested in incentives for innovation and the practical implementation of prize competitions will find this an invaluable resource. Potential prize sponsors and entrepreneurs, professionals and other individuals or organizations interested in participating in such competitions will also find much of interest in this groundbreaking book.

Download or read book Patents as an Incentive for Innovation written by Rafal Sikorski and published by Kluwer Law International B.V.. This book was released on 2021-02-16 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patents as an Incentive for Innovation Edited by Rafal Sikorski & Zaneta Zemla-Pacud Patents are a reward for human inventiveness. A well-functioning patent system must provide incentives for innovation, safeguard dynamic competition and protect the public interest – a balancing act fraught with difficulty in the ‘connected’ global world. This ground-breaking book is the first to deeply analyse how patent law today performs its function of stimulating innovation in the crucial sectors of healthcare, agriculture, artificial intelligence and communications technology. Patent specialists, practitioners and scholars from various jurisdictions thoroughly describe how patent rights can be deployed to incentivize investments in researching and developing socially critical innovations without sacrificing the public’s interest in sharing the benefits that are produced. Among the emerging issues of patent rights investigated are the following: protectability and morality of according private rights over material derived from the human body; licensing on fair, reasonable and non-discriminatory (FRAND) terms; the supplementary protection certificate (SPC) manufacturing waiver; patent eligibility of artificial intelligence-related inventions; excessive enforcement of patents by patent assertion entities; enforcement of second medical use innovations; the so-called farmer’s privilege, the farm-save seed exemption, and breeders’ rights; international trade regulations and their influence on patent systems; human enhancement technologies and the consequences of patenting them; specifics of patent protection for biologic medicines; challenges posed by artificial intelligence for the disclosure requirement in patent law; and standard essential patent licensing, particularly in the context of the 5G standard. Perspectives taken into consideration by the authors include protectability criteria, length and scope of the granted protection, mechanisms for dealing with the friction between generalized application and specialized concerns, and rights enforcement. These aspects are analysed on the domestic, international and global levels. The COVID-19 pandemic has highlighted the urgent need to strike the right balance between innovation and access in healthcare and other technologies, a need rooted in patent law. Because the problems discussed – and solutions offered – in this collection of expert essays are of tremendous practical and cultural significance, the book will be of immeasurable value to practitioners, policymakers and researchers in patent law and other fields of intellectual property law.

Download or read book Innovation Economics Engineering and Management Handbook 1 written by Dimitri Uzunidis and published by John Wiley & Sons. This book was released on 2021-06-08 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovation, in economic activity, in managerial concepts and in engineering design, results from creative activities, entrepreneurial strategies and the business climate. Innovation leads to technological, organizational and commercial changes, due to the relationships between enterprises, public institutions and civil society organizations. These innovation networks create new knowledge and contribute to the dissemination of new socio-economic and technological models, through new production and marketing methods. Innovation Economics, Engineering and Management Handbook 1 is the first of the two volumes that comprise this book. The main objectives across both volumes are to study the innovation processes in todays information and knowledge society; to analyze how links between research and business have intensified; and to discuss the methods by which innovation emerges and is managed by firms, not only from a local perspective but also a global one. The studies presented in these two volumes contribute toward an understanding of the systemic nature of innovations and enable reflection on their potential applications, in order to think about the meaning of growth and prosperity.

Download or read book The Oxford Handbook of the Economics of the Biopharmaceutical Industry written by Patricia M. Danzon and published by Oxford University Press. This book was released on 2012-04-12 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: The biopharmaceutical industry has been a major driver of technological change in health care, producing unprecedented benefits for patients, cost challenges for payers, and profits for shareholders. As consumers and companies benefit from access to new drugs, policymakers around the globe seek mechanisms to control prices and expenditures commensurate with value. More recently the 1990s productivity boom of new products has turned into a productivity bust, with fewer and more modest innovations, and flat or declining revenues for innovative firms as generics replace their former blockbuster products. This timely volume examines the economics of the biopharmaceutical industry, with eighteen chapters by leading academic health economists. Part one examines the economics of biopharmaceutical innovation including determinants of the costs and returns to new drug development; how capital markets finance R&D and how costs of financing the biopharmaceutical industry compare to financing costs for other industries; the effects of safety and efficacy regulation by the Food and Drug Administration (FDA) and of price and reimbursement regulation on incentives for innovation; and the role of patents and regulatory exclusivities. Part two examines the market for biopharmaceuticals with chapters on prices and reimbursement in the US, the EU, and other industrialized countries, and in developing countries. It looks at the optimal design of insurance for drugs and the effects of cost sharing on spending and on health outcomes; how to measure the value of pharmaceuticals using pharmacoeconomics, including theory, practical challenges, and policy issues; how to measure pharmaceutical price growth over time and recent evidence; empirical evidence on the value of pharmaceuticals in terms of health outcomes; promotion of pharmaceuticals to physicians and consumers; the economics of vaccines; and a review of the evidence on effects of mergers, acquisitions and alliances. Each chapter summarizes the latest insights from theory and recent empirical evidence, and outlines important unanswered questions and areas for future research. Based on solid economics, it is nevertheless written in terms accessible to the general reader. The book is thus recommended reading for academic economists and non-economists, and for those in industry and policy who wish to understand the economics of this fascinating industry.

Download or read book Incentives for Collaboration and Competition written by Jonas Heite and published by Springer Nature. This book was released on 2020-02-25 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Individuals and firms can improve their performance through collaboration and competition. However, it is still an open question how collaboration and competition schemes can be optimally designed and incentivized in order to exploit their full potential. Jonas Heite investigates this question by assessing efforts to stimulate R&D collaboration and by examining properties as well as underlying mechanisms (e.g., effort, risk, confidence and stress) of ability configurations in contests. Based on three large-scale economic studies covering laboratory, field and natural experiments, the author applies novel and sophisticated econometric methods to provide causal empirical evidence that yields important implications for policymakers, managers and researchers.

Download or read book Incentives for Innovation in China written by Xuedong Ding and published by Routledge. This book was released on 2015-02-11 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past three decades, China has successfully transformed itself from an extremely poor economy to the world’s second largest economy. The country’s phenomenal economic growth has been sustained primarily by its rapid and continuous industrialization. Currently industry accounts for nearly two-fifths of China’s gross domestic product, and since 2009 China has been the world’s largest exporter of manufactured products. This book explores the question of how far this industrial growth has been the product of government policies. It discusses how government policies and their priorities have developed and evolved, examines how industrial policies are linked to policies in other areas, such as trade, technology and regional development, and assesses how new policy initiatives are encouraging China’s increasing success in new technology-intensive industries. It also demonstrates how China’s industrial policies are linked to development of industrial clusters and regions.

Download or read book Innovation Matters written by Richard J. Gilbert and published by MIT Press. This book was released on 2022-06-07 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: A proposal for moving from price-centric to innovation-centric competition policy, reviewing theory and evidence on economic incentives for innovation. Competition policy and antitrust enforcement have traditionally focused on prices rather than innovation. Economic theory shows the ways that price competition benefits consumers, and courts, antitrust agencies, and economists have developed tools for the quantitative evaluation of price impacts. Antitrust law does not preclude interventions to encourage innovation, but over time the interpretation of the laws has raised obstacles to enforcement policies for innovation. In this book, economist Richard Gilbert proposes a shift from price-centric to innovation-centric competition policy. Antitrust enforcement should be concerned with protecting incentives for innovation and preserving opportunities for dynamic, rather than static, competition. In a high-technology economy, Gilbert argues, innovation matters. Gilbert considers both theory and available empirical evidence on the relationships among market structure, firm behavior, and the production of new products and services. He reviews the distinctive features of the high-tech economy and why current analytical tools used by antitrust enforcers aren't up to the task of assessing innovation concerns. He considers, from the perspective of innovation competition, Kenneth Arrow's “replacement effect” and the Schumpeterian theory of market power and appropriation; discusses the effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers, and innovation. He describes examples of merger enforcement by US and European antitrust agencies; examines cases brought against Microsoft and Google; and discusses the risks and benefits of interoperability standards. Finally, he offers recommendations for competition policy. The open access edition of this book was made possible by generous funding from Arcadia – a charitable fund of Lisbet Rausing and Peter Baldwin.

Download or read book Making Sense of Incentives written by Timothy J. Bartik and published by W.E. Upjohn Institute. This book was released on 2019-10-15 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bartik provides a clear and concise overview of how state and local governments employ economic development incentives in order to lure companies to set up shop—and provide new jobs—in needy local labor markets. He shows that many such incentive offers are wasteful and he provides guidance, based on decades of research, on how to improve these programs.

Download or read book The Architecture of Innovation written by Joshua Lerner and published by Harvard Business Press. This book was released on 2012 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 'The Architecture of Innovation', Josh Lerner explores what lies behind successful innovation, and what managers and companies can learn from successful and unsuccessful cases. He combines both analysis of in-house innovation in corporate research labs with finance-based venture capital investment in innovation.

Download or read book Innovation and Public Policy written by Austan Goolsbee and published by University of Chicago Press. This book was released on 2022-03-25 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A calculation of the social returns to innovation /Benjamin F. Jones and Lawrence H. Summers --Innovation and human capital policy /John Van Reenen --Immigration policy levers for US innovation and start-ups /Sari Pekkala Kerr and William R. Kerr --Scientific grant funding /Pierre Azoulay and Danielle Li --Tax policy for innovation /Bronwyn H. Hall --Taxation and innovation: what do we know? /Ufuk Akcigit and Stefanie Stantcheva --Government incentives for entrepreneurship /Josh Lerner.

Download or read book Democratizing Innovation written by Eric Von Hippel and published by MIT Press. This book was released on 2006-02-17 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of user-centered innovation: how it can benefit both users and manufacturers and how its emergence will bring changes in business models and in public policy. Innovation is rapidly becoming democratized. Users, aided by improvements in computer and communications technology, increasingly can develop their own new products and services. These innovating users—both individuals and firms—often freely share their innovations with others, creating user-innovation communities and a rich intellectual commons. In Democratizing Innovation, Eric von Hippel looks closely at this emerging system of user-centered innovation. He explains why and when users find it profitable to develop new products and services for themselves, and why it often pays users to reveal their innovations freely for the use of all.The trend toward democratized innovation can be seen in software and information products—most notably in the free and open-source software movement—but also in physical products. Von Hippel's many examples of user innovation in action range from surgical equipment to surfboards to software security features. He shows that product and service development is concentrated among "lead users," who are ahead on marketplace trends and whose innovations are often commercially attractive. Von Hippel argues that manufacturers should redesign their innovation processes and that they should systematically seek out innovations developed by users. He points to businesses—the custom semiconductor industry is one example—that have learned to assist user-innovators by providing them with toolkits for developing new products. User innovation has a positive impact on social welfare, and von Hippel proposes that government policies, including R&D subsidies and tax credits, should be realigned to eliminate biases against it. The goal of a democratized user-centered innovation system, says von Hippel, is well worth striving for. An electronic version of this book is available under a Creative Commons license.

Download or read book Government Incentives for Innovation and Entrepreneurship written by Mahmoud M. Abdellatif and published by Springer Nature. This book was released on 2022-11-30 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the role of government fiscal and non-fiscal incentives in spurring innovation and entrepreneurship in developed and developing economies. It explores and examines the role of government programs in different stages of firm growth pre-startup, startup, and scale-up. By developing a theoretical framework and reviewing international evidence, the book identifies the best combination of government incentives to stimulate innovation and entrepreneurship, and provides concrete policy recommendations for decision-makers. Some of the issues tackled in this book include national innovation policy, innovation support programs, effectiveness of the support, challenges associated with the programs, risk-sharing and partnerships for innovation. This book is of interest to academics, students, practitioners, policymakers, governmental and non-governmental organizations as well as other stakeholders who wants to be informed about the challenges, progress and current trend in stimulating innovation and entrepreneurship.

Download or read book Designing incentives in innovations processes Gamification as an approach for creating an incentive system for the early stage of the innovation process written by Lukas Weniger and published by GRIN Verlag. This book was released on 2020-06-12 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2019 in the subject Business economics - Business Management, Corporate Governance, grade: 1,7, Berlin School of Economics and Law, language: English, abstract: Incentive systems can contribute to the best possible exploitation of the employee’s abilities. A new way of setting those incentives and motivating employees is gamification. Gamification is defined as the application of game mechanics to a non-game setting, such as the business environment. Companies have discovered game-like incentives for motivating their employees, and now, this paper tries to create a gamified incentive system for motivating employees in the early stage of the innovation process. Innovation creates value, strengthens the market position and creates competitive advantages. Therefore innovation is widely seen as a critical source for economic success for companies. However, at the same time, innovation is expensive. For example, in 2018 alone, Apple invested as much as 14,24 billion dollars on research and development. This represented around 46% of their total operating expenses and approximately 2,6% of their total revenues. These costs are making it vital for companies to ensure the efficient use of innovation resources. This efficiency is largely determined by the competence, creativity and motivation of the employees working in the area of in research and development (R&D). Thus, companies have to generate adequate motivation in employees to deliver their innovative ideas, obtain a patent and develop the patentable idea into profitable innovation. Human resource (HR) management practices are considered as an essential instrument to fulfil this task. However, standard pay-for-performance schemes, which only reward short-term financial success, are not suitable for fulfilling this task in the innovation process, because innovation processes are likely to fail as they contain a high degree of uncertainty. In standard schemes, this failure would result in penalties by a lower compensation or a possible termination of the contract. This punishment has the potential to harm the innovative behaviour of employees. A company that wants to encourage innovation must design incentive systems that free employees to take risks, experiments and discover what practices and technologies are the most effective. These unique characteristics of innovation processes are the reason why analysing incentive systems in the context of innovation processes is of particular interest. Especially since incentive systems are considered as essential for ensuring the efficiency of innovation processes, as employees adapt their behaviour to these systems.

Download or read book Innovation Intellectual Property and Economic Growth written by Christine Greenhalgh and published by Princeton University Press. This book was released on 2010-01-24 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Christine Greenhalgh explains the complex process of innovation & how it sustains the growth of firms, industries & economies, combining microeconomic & macroeconomic analysis.

Download or read book Successful Management by Motivation written by Bruno S. Frey and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Motivated employees play a crucial role in creating a companys sustainable competitive advantage. Successful Management by Motivation shows that in a knowledge-based society, this goal cannot be achieved by extrinsic motivation alone. Pay for performance often even hurts because it crowds out intrinsic motivation. To succeed, companies have to find ways of fostering and sustaining intrinsic motivation. With the help of in-depth case studies, representative surveys, and analysis based on a large number of firms and employees, this work identifies the various aspects of motivation in companies and shows how the right combination of intrinsic and extrinsic motivation can be achieved.

Download or read book Entrepreneurship and Economic Development written by Wim Naudé and published by Springer. This book was released on 2010-12-08 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leading international scholars provide a timely reconsideration of how and why entrepreneurship matters for economic development, particularly in emerging and developing economies. The book critically dissects the evolving relationship between entrepreneurs and the state.