Technology Market Transactions - Auctions, Intermediaries and Innovation

Technology Market Transactions, Edward Elgar (Book extract), Cheltenham, UK, 2012

35 Pages Posted: 3 Jul 2012 Last revised: 4 Apr 2013

Date Written: July 2, 2012

Abstract

Within the open innovation paradigm, firms need to operate efficiently in markets for technology. This book presents original research on technology transactions, market intermediaries and, specifically, the role of auctions as a novel transaction model for patented technologies. Frank Tietze delivers an in-depth discussion of the impact of empirical results upon transaction cost theory, and in so doing, provides the means for better understanding technology transaction processes in general, and auctions in particular. Substantiating transaction cost theory with empirical auction data, the author goes on to explore how governance structures need to be designed for effective distributed innovation processes. He concludes that the auction mechanism is a viable transaction model, and illustrates that the auction design, as currently operated by market intermediaries, requires thorough adjustments. Various options for possible improvements are subsequently prescribed. The theoretical facet of this book will strongly appeal to business economists, whilst its practical implications will provide an illuminating read for both academics and practitioners in the fields of innovation and intellectual property. Revealing empirically substantiated technology prices, this book will also prove to be of great interest to policy makers for further developing the markets for technology.

Keywords: Markets for Technology, patent valuation, open innovation, auctions, intermediaries

Suggested Citation

Tietze, Frank, Technology Market Transactions - Auctions, Intermediaries and Innovation (July 2, 2012). Technology Market Transactions, Edward Elgar (Book extract), Cheltenham, UK, 2012, Available at SSRN: https://ssrn.com/abstract=2097823 or http://dx.doi.org/10.2139/ssrn.2097823

Frank Tietze (Contact Author)

University of Cambridge ( email )

Institute for Manufacturing (IfM)
17 Charles Babbage Road
Cambridge, CB3 0FS
United Kingdom
00441223338083 (Phone)

HOME PAGE: http://www.ifm.eng.cam.ac.uk/people/ft263/

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