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The management of innovation

Aghion, P.; Tirole, J.; (1994) The management of innovation. Quarterly Journal of Economics , 109 (4) pp. 1181-1209. Green open access

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Abstract

The paper analyzes the organization of the R&D activity in an incomplete contract framework. It provides theoretical foundations: (a) to understand how the allocation of property rights on innovations may affect both the frequency and the magnitude of these innovations; (b) to rationalize commonly observed features in research employment contracts, such as shop rights, trailer clauses, and the "hired for" doctrine; (c) to discuss the robustness of the so-called Schumpeterian hypotheses to endogenizing the organization of R&D; and (d) to provide a rationale for cofinancing arrangements in research activities.

Type: Article
Title: The management of innovation
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.mitpressjournals.org/loi/qjec
Language: English
Additional information: © 1994 The MIT Press
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/17669
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