Arora, Ashish; Belenzon, Sharon; Suh, Jungkyu - 2022
Well functioning Markets for Technology (MFT) allow inventors to sell their inventions to others that may derive more … value from them. We argue that the growing reliance on science in inventions enhances MFT. In addition to higher quality … inventions, reliance on science may enhance gains from trade and reduce the transfer cost of knowledge and other transaction …