In the era of continuous and steadily accelerating technological change that started with the industrial revolution, economies and societies were repeatedly transformed in ways that can be linked to ownership of the essential and scarce factor of production of the day and command of the economic rents that flow to that factor. While history allows many narratives to be spun, the contours of conflict, both internal and between states, can be seen as aligned with the contest over rents – from the wars of territorial acquisition of the feudal era when land was the main source rents, to the wars of mercantilist expansion when the economies of scale generated by the machinery of mass production became the main source of rent, to the resource-rent-fuelled oil wars of the modern era, and in recent decades the proliferating conflicts over intellectual property. With the digital transformation we are seeing the emergence of a new type of economy – the data-driven economy, in which data is the essential factor of production. Data generates massive rents, fuels the rise of superstar firms, and generates powerful incentives for strategic trade and investment policy. The emergence of this new economy signals a new era of conflict, on new battlegrounds, with new tools or weapons, between new coalitions within and amongst countries. This conflict is already upon us. The vast rents prospectively at play in the data-driven economy arguably constitute a major (perhaps the major) trigger for the open trade and technology war between the United States and China. They also are at the heart of the brewing conflicts over taxation of digital platform firms. This note describes the contours of the conflicts that are to be expected with the digital transformation as it realigns interests, compares these expectations with actual developments, and comments on the implications for the rules-based system of international commerce.
{"title":"Economic Rents and the Contours of Conflict in the Data-Driven Economy","authors":"Dan Ciuriak","doi":"10.2139/ssrn.3496025","DOIUrl":"https://doi.org/10.2139/ssrn.3496025","url":null,"abstract":"In the era of continuous and steadily accelerating technological change that started with the industrial revolution, economies and societies were repeatedly transformed in ways that can be linked to ownership of the essential and scarce factor of production of the day and command of the economic rents that flow to that factor. While history allows many narratives to be spun, the contours of conflict, both internal and between states, can be seen as aligned with the contest over rents – from the wars of territorial acquisition of the feudal era when land was the main source rents, to the wars of mercantilist expansion when the economies of scale generated by the machinery of mass production became the main source of rent, to the resource-rent-fuelled oil wars of the modern era, and in recent decades the proliferating conflicts over intellectual property. With the digital transformation we are seeing the emergence of a new type of economy – the data-driven economy, in which data is the essential factor of production. Data generates massive rents, fuels the rise of superstar firms, and generates powerful incentives for strategic trade and investment policy. The emergence of this new economy signals a new era of conflict, on new battlegrounds, with new tools or weapons, between new coalitions within and amongst countries. This conflict is already upon us. The vast rents prospectively at play in the data-driven economy arguably constitute a major (perhaps the major) trigger for the open trade and technology war between the United States and China. They also are at the heart of the brewing conflicts over taxation of digital platform firms. This note describes the contours of the conflicts that are to be expected with the digital transformation as it realigns interests, compares these expectations with actual developments, and comments on the implications for the rules-based system of international commerce.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"53 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91079318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We report results from a novel experiment where participants invest an endowment across multiple options, with investment in one option disrupting (reducing) the value of another option. While expected payoff maximization predicts the comparative statics of aggregate investment well, it does not precisely predict investment levels. However, when conditioned on observed investment in a riskless outside option, expected payoff maximization better predicts investment levels. At the participant level, investment variability increases in disruption.
{"title":"A Disruption Experiment","authors":"Cortney S. Rodet, Andrew Smyth","doi":"10.2139/ssrn.3435205","DOIUrl":"https://doi.org/10.2139/ssrn.3435205","url":null,"abstract":"We report results from a novel experiment where participants invest an endowment across multiple options, with investment in one option disrupting (reducing) the value of another option. While expected payoff maximization predicts the comparative statics of aggregate investment well, it does not precisely predict investment levels. However, when conditioned on observed investment in a riskless outside option, expected payoff maximization better predicts investment levels. At the participant level, investment variability increases in disruption.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75337253","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-10DOI: 10.1002/9781119648055.ch9
Peter S. Menell, Suzanne Scotchmer
This chapter of the forthcoming Handbook of Law and Economics (A.M. Polinsky & S. Shavell (eds.)) provides a comprehensive survey of the burgeoning literature on the law and economics of intellectual property. It is organized around the two principal objectives of intellectual property law: promoting innovation and aesthetic creativity (focusing on patent and copyright protection) and protecting integrity of the commercial marketplace (trademark protection and unfair competition law). Each section sets forth the economic problem, the principal models and analytical frameworks, application of economic analysis to particular structural and doctrinal issues, interactions with other legal regimes (such as competition policy), international dimensions, and comparative analysis of intellectual property protection and other means of addressing the economic problem (such as public funding and prizes in the case of patent and copyright law and direct consumer protection statutes and public enforcement in the case of trademarks).
即将出版的《法律与经济学手册》(A.M. Polinsky & S. Shavell(编))的这一章对知识产权法律和经济学的新兴文献进行了全面调查。它围绕知识产权法的两个主要目标进行组织:促进创新和审美创造(侧重于专利和版权保护)和保护商业市场的完整性(商标保护和不正当竞争法)。每一节阐述经济问题、主要模型和分析框架、经济分析对特定结构和理论问题的应用、与其他法律制度(如竞争政策)的相互作用、国际层面、并比较分析知识产权保护和解决经济问题的其他手段(如专利和版权法的公共资助和奖励，以及商标的直接消费者保护法规和公共执法)。
{"title":"Intellectual Property","authors":"Peter S. Menell, Suzanne Scotchmer","doi":"10.1002/9781119648055.ch9","DOIUrl":"https://doi.org/10.1002/9781119648055.ch9","url":null,"abstract":"This chapter of the forthcoming Handbook of Law and Economics (A.M. Polinsky & S. Shavell (eds.)) provides a comprehensive survey of the burgeoning literature on the law and economics of intellectual property. It is organized around the two principal objectives of intellectual property law: promoting innovation and aesthetic creativity (focusing on patent and copyright protection) and protecting integrity of the commercial marketplace (trademark protection and unfair competition law). Each section sets forth the economic problem, the principal models and analytical frameworks, application of economic analysis to particular structural and doctrinal issues, interactions with other legal regimes (such as competition policy), international dimensions, and comparative analysis of intellectual property protection and other means of addressing the economic problem (such as public funding and prizes in the case of patent and copyright law and direct consumer protection statutes and public enforcement in the case of trademarks).","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"1074 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76681654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-09DOI: 10.1016/j.ijme.2020.100389
Julien Picault
{"title":"Patent vs. Open Source: A Classroom Activity Using Texas Hold’em Poker","authors":"Julien Picault","doi":"10.1016/j.ijme.2020.100389","DOIUrl":"https://doi.org/10.1016/j.ijme.2020.100389","url":null,"abstract":"","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83063594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Raffaele Conti, Miguel Godinho de Matos, G. Valentini
Big data (BD) analytics is considered one of the most important general-purpose technologies of our era. Given the pervasiveness of BD across industries, both policy-makers and scholars have become particularly interested in assessing the effects of BD on firm performance. However, previous studies have not investigated whether the performance benefits of BD accrue homogeneously to all firms or, instead, as some scholars warn, mainly to large companies. To address this question, we explore the effect of BD in two large and representative samples of firms. Our findings indicate that both large and small firms can gain from BD, yet large firms predominantly use BD to enhance efficiency via process innovation, whereas small firms use BD to increase sales through product innovation.
{"title":"Big for Everyone? Big Data, Firm Size and Performance","authors":"Raffaele Conti, Miguel Godinho de Matos, G. Valentini","doi":"10.2139/ssrn.3631065","DOIUrl":"https://doi.org/10.2139/ssrn.3631065","url":null,"abstract":"Big data (BD) analytics is considered one of the most important general-purpose technologies of our era. Given the pervasiveness of BD across industries, both policy-makers and scholars have become particularly interested in assessing the effects of BD on firm performance. However, previous studies have not investigated whether the performance benefits of BD accrue homogeneously to all firms or, instead, as some scholars warn, mainly to large companies. To address this question, we explore the effect of BD in two large and representative samples of firms. Our findings indicate that both large and small firms can gain from BD, yet large firms predominantly use BD to enhance efficiency via process innovation, whereas small firms use BD to increase sales through product innovation.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"76 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90573087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
W. Schuster, Evan Davis, Kourtenay Schley, Julie Ravenscraft
In this article, we examine the rate at which patent applications are granted as a function of the inventor’s race and gender. Empirical analysis of more than 3.9 million United States applications finds minority and women applicants are significantly less likely to secure a patent relative to the balance of inventors. Further analysis indicates that a portion of this bias is introduced during prosecution at the Patent Office, independent of the quality of the application. Mechanisms underlying these disparities are explored. The paper concludes with a discussion of our results and their interaction with patent law, innovation policy, and employment trends.
{"title":"An Empirical Study of Patent Grant Rates as a Function of Race and Gender","authors":"W. Schuster, Evan Davis, Kourtenay Schley, Julie Ravenscraft","doi":"10.2139/ssrn.3634987","DOIUrl":"https://doi.org/10.2139/ssrn.3634987","url":null,"abstract":"In this article, we examine the rate at which patent applications are granted as a function of the inventor’s race and gender. Empirical analysis of more than 3.9 million United States applications finds minority and women applicants are significantly less likely to secure a patent relative to the balance of inventors. Further analysis indicates that a portion of this bias is introduced during prosecution at the Patent Office, independent of the quality of the application. Mechanisms underlying these disparities are explored. The paper concludes with a discussion of our results and their interaction with patent law, innovation policy, and employment trends.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"28 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82904380","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. Although entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the signal of the efficacy of the particular strategy and the quality of the idea. Resolving this conflation requires exploring multiple strategies. Consequently, entrepreneurial choice is enhanced by finding ways to lower the cost of testing multiple strategies, receiving guidance as to the types of tests likely to reduce signal conflation, and optimally sequencing tests based on previous beliefs. This creates a role for judgment that may be provided by trusted third parties such as mentors and investors. We hypothesize that institutions that lower the cost of transmitting and aggregating judgment spur entrepreneurial performance. This paper was accepted by David Simchi-Levi, Special Issue of Management Science: 65th Anniversary.
{"title":"Enabling Entrepreneurial Choice","authors":"A. Agrawal, J. Gans, Scott Stern","doi":"10.2139/ssrn.3592509","DOIUrl":"https://doi.org/10.2139/ssrn.3592509","url":null,"abstract":"Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. Although entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the signal of the efficacy of the particular strategy and the quality of the idea. Resolving this conflation requires exploring multiple strategies. Consequently, entrepreneurial choice is enhanced by finding ways to lower the cost of testing multiple strategies, receiving guidance as to the types of tests likely to reduce signal conflation, and optimally sequencing tests based on previous beliefs. This creates a role for judgment that may be provided by trusted third parties such as mentors and investors. We hypothesize that institutions that lower the cost of transmitting and aggregating judgment spur entrepreneurial performance. This paper was accepted by David Simchi-Levi, Special Issue of Management Science: 65th Anniversary.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"18 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76117438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-05-31DOI: 10.4324/9781003037613-15
Christian Voegtlin, M. Patzer
The purpose of this chapter is to highlight links between the research fields of responsible leadership and responsible innovation and to point out the influence pathways through which responsible leadership can drive responsible innovation. It will reflect on areas related to responsible innovation where responsible leadership might be especially helpful and thereby discuss novel fields of engagement for rolling out responsible leadership. Finally, the chapter provides an agenda for future research in this area. The following section will introduce the main constructs.
{"title":"Responsible Global Leaders as Drivers of Responsible Innovation","authors":"Christian Voegtlin, M. Patzer","doi":"10.4324/9781003037613-15","DOIUrl":"https://doi.org/10.4324/9781003037613-15","url":null,"abstract":"The purpose of this chapter is to highlight links between the research fields of responsible leadership and responsible innovation and to point out the influence pathways through which responsible leadership can drive responsible innovation. It will reflect on areas related to responsible innovation where responsible leadership might be especially helpful and thereby discuss novel fields of engagement for rolling out responsible leadership. Finally, the chapter provides an agenda for future research in this area. The following section will introduce the main constructs.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"106 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77206522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Product innovation entails both technological and design innovation, yet our knowledge of determinants of innovation outcomes is limited to technological innovations. This is a significant limitation because design innovation represents an increasingly large share of total innovation activity by organizations and innovators. In this paper, we focus on two dimensions of design recombination: The number of parent designs, i.e., the number of designs that used in the creation of the focal design, and the transfer distance, i.e., the average categorical distance of parent designs to the focal design. We argue that using multiple parent designs is beneficial for functional designs and increases the likelihood that functional design is a “hit”. This outcome happens because using multiple parent designs enables designers to focus on improving a specific component or to focus on integrated functionality while using the best available components for the rest. For the artistic designs, however, transfer distance increases the likelihood that the design is a “hit”. When a designer uses design(s) from the same or similar categories, it may lead to a “design fixation” that reduces the novelty in the focal design, where novelty is a critical determinant of the success of artistic designs. Our findings, based on an online 3D printing community called Thingiverse, support our arguments. Our study has important implications for research on design innovation, recombinant innovation, and managing innovation communities.
{"title":"The Beauty or the Beast? Unlocking Recombinant Determinants of Performance for Artistic and Functional Product Designs","authors":"E. Yılmaz, Hakan Ozalp, A. Gambardella","doi":"10.2139/ssrn.3610718","DOIUrl":"https://doi.org/10.2139/ssrn.3610718","url":null,"abstract":"Product innovation entails both technological and design innovation, yet our knowledge of determinants of innovation outcomes is limited to technological innovations. This is a significant limitation because design innovation represents an increasingly large share of total innovation activity by organizations and innovators. In this paper, we focus on two dimensions of design recombination: The number of parent designs, i.e., the number of designs that used in the creation of the focal design, and the transfer distance, i.e., the average categorical distance of parent designs to the focal design. We argue that using multiple parent designs is beneficial for functional designs and increases the likelihood that functional design is a “hit”. This outcome happens because using multiple parent designs enables designers to focus on improving a specific component or to focus on integrated functionality while using the best available components for the rest. For the artistic designs, however, transfer distance increases the likelihood that the design is a “hit”. When a designer uses design(s) from the same or similar categories, it may lead to a “design fixation” that reduces the novelty in the focal design, where novelty is a critical determinant of the success of artistic designs. Our findings, based on an online 3D printing community called Thingiverse, support our arguments. Our study has important implications for research on design innovation, recombinant innovation, and managing innovation communities.","PeriodicalId":14586,"journal":{"name":"IO: Productivity","volume":"81 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-05-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80718811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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