maintain discretion over their research agenda and allow others to build on their discoveries. This paper examines the … granting of control rights to researchers. Within this framework, openness of upstream research does not simply encourage … higher levels of downstream exploitation. It also raises the incentives for additional upstream research by encouraging the …

We develop a model that clarifies the respective advantages and disadvantages of academic and private-sector research … not rely on lack of appropriability or spillovers to generate a rationale for academic research. Instead, we focus on … interests, academia can be indispensable for early-stage research. At the same time, the private sector's ability to direct …