This paper links the rise of new industries populated by skill-intensive companies, and the divergence in labour incomes between skills. Our model explains inequality by the fact that as the skilled workers move towards new Silicon-Valley type firms, the reduced complementarity between skilled...

This paper links the rise of new industries populated by skill-intensive companies, and the divergence in labour incomes between skills. Our model explains inequality by the fact that as the skilled workers move towards new Silicon-Valley type firms, the reduced complementarity between skilled...

This paper links the rise of new industries populated by skill-intensive companies, and the divergence in labour incomes between skills. Our model explains inequality by the fact that as the skilled workers move towards new Silicon-Valley type firms, the reduced complementarity between skilled...

Although market transactions for technologies, ideas, knowledge or information are limited by several well known imperfections, there is increasing evidence that, during the last two decades or so, such market transactions have become more common than in the past. These markets bring about new...

Market-mediated contracts for technology trade are bound by several transaction costs. This paper argues that as these transaction costs become less severe, markets for technology can help improve three market failures: 1) R&D duplications; 2) externalities in potentially public R&D outcomes; 3)...

This essay explores the nature, the functioning, and the economic and policy implications of markets for technology. Today, the outsourcing of research and development activities is more common than in the past, and specialized technology suppliers have emerged in many industries. In a sense,...

We study the production of knowledge when many researchers or inventors are involved, in a setting where tensions can arise between individual public and private contributions. We first show that without some kind of coordination, production of the public knowledge good (science or research...

This paper explored an unusually comprehensive dataset of more than 2,000 drug R&D projects all over the world during the 1990s. This enabled us to characterise several features of the innovation process in pharmaceuticals, particularly the different role and comparative R&D performance of the...