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Transaction costs, externalities and innovation

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  • Estrada, Fernando

Abstract

There is now considerable evidence on the value of using external resources to promote the development of innovative technologies. Furthermore, the ability to experience innovations in business by external links that may help to avoid risk, improve the quality of natural products, which means qualifying business activities and promote companies capable of rationalizing and projecting high yields. This paper provides an approach from the transaction cost theory of Ronald Coase, in particular, provides preconditions to estimate the specific market of biotechnology.

Suggested Citation

  • Estrada, Fernando, 2012. "Transaction costs, externalities and innovation," MPRA Paper 35875, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:35875
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    References listed on IDEAS

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    1. repec:reg:rpubli:98 is not listed on IDEAS
    2. Robert W. Hahn & Richard L. Schmalensee & Roger Noll & Robert Stavins & Lester B. Lave & George C. Eads & Milton Russell & V. Kerry Smith & Maureen L. Cropper & Paul R. Portney & Kenneth J. Arrow, 1996. "Benefit-Cost Analysis in Environmental, Health, and Safety Regulation: A Statement of Principles," Books, American Enterprise Institute, number 51790, September.
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    4. Alfranca, Oscar & Huffman, Wallace E., 2001. "Impact of institutions and public research on private agricultural research," Agricultural Economics, Blackwell, vol. 25(2-3), pages 191-198, September.
    5. R. H. Coase, 1935. "The Problem of Duopoly Reconsidered," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 2(2), pages 137-143.
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    More about this item

    Keywords

    Coase theorem; Transactions costs; Biotechnology; Ronald Coase; Innovation; Fiancial Markets;
    All these keywords.

    JEL classification:

    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
    • B0 - Schools of Economic Thought and Methodology - - General
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics
    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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