Matching Ideas to Institutions Under Uncertainty: The Role of the Innovation Commons

19 Pages Posted: 23 Dec 2015

Date Written: January 22, 2015

Abstract

The theory of innovation policy widely neglects private uncertainty about optimal matching of an idea to an innovation institution for development. I argue that information pooling in the commons enables private uncertainty to be effectively resolved, prior to subsequent development in private or public innovation institutions. This suggests that the innovation commons may be a crucial institutional component of an innovation system in the early phase of an innovation trajectory, but also that it is likely to be a temporary phase.

Keywords: innovation, institutions, uncertainty, commons, innovation policy

JEL Classification: O3

Suggested Citation

Potts, Jason, Matching Ideas to Institutions Under Uncertainty: The Role of the Innovation Commons (January 22, 2015). Available at SSRN: https://ssrn.com/abstract=2706924 or http://dx.doi.org/10.2139/ssrn.2706924

Jason Potts (Contact Author)

RMIT University ( email )

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