Modern societies regard knowledge as a production factor in its own right. The market is the prevailing governance mode … qualitative research into patent trading we suggest that the emergence of a well-functioning market for patented new technological … knowledge is confronted with several obstacles, which can be characterized as different facets of uncertainty. They are included …

Real options investment theory predicts current investment falls as uncertainty about market returns increases. In the … mitigate firm-specific uncertainty and stimulate current R&D investment. Our empirical results support both the prediction of … case of R&D investment, which is usually considered an irreversible form of investment, this effect should be quite …