Technology and Markets for Knowledge: Knowledge Creation, Diffusion and Exchange within a Growing Economy (Economics of Science, Technology and Innovation)

The purpose of Technology and Markets for Knowledge is to reconcile two terms that the economic tradition has opposed for a long time: the market and knowledge. The editor and contributors focus on the transformations that affect the processes of creation, accumulation, and exchange of scientific, technological, and commercial knowledge by organizations.
The first part of this book analyzes knowledge markets basis. The first three chapters rely on the idea that knowledge is the organization's fundamental capital. Technological and scientific knowledge is becoming more fragmented. Pieces of knowledge may be articulated due to sophisticated R&D technologies. Markets for knowledge solely concern individual knowledge units which form the knowledge base of the firm. These knowledge units are capitalizable and adaptable to different contexts.
The second part of this book extends these developments by providing sectoral illustrations (Chemistry, Bio-pharmaceuticals, Semiconductors, and Software). Firms are focusing on their own competencies, which entails an increasing externalization of some tasks, even the more complex ones for which the recourse to an external business service is legitimated by competencies-related motivations, economies of scale, and economies of scope. These knowledge providers allow firms to improve the efficiency of their innovative and productive activities. Consequently, the role of markets for knowledge is analyzed both with respect to the decomposition of the productive processes and the disintegration of the innovative ones.