opportunity and in encouraging trade in new technological knowledge. Through setting low fees and establishing administrative … cost of transacting in them. Creating secure assets in new technological knowledge and facilitating access to markets in …

Debates have long centered around the relative merits of prizes and other incentives for technological innovation. Some … proof of the efficacy of innovation prizes. The Society initially was averse to patents and prohibited the award of prizes … technological innovation and long-term economic development …

The paper explores the role of institutional mechanisms in generating technological knowledge spillovers. The … and unpatented innovations, whereas prizes are less effective in generating external benefits from knowledge spillovers. I …

. Accordingly, this paper offers an empirical comparison of patents in relation to the award of prizes for technological innovation … unpredictable, and was unrelated to such proxies for the productivity of the innovation as inventive capital or the commercial …