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The circulation of ideas in firms and markets / Thomas Hellmann in Management science, Vol. 57 N° 10 (Octobre 2011) 

Public ISBD [article]  in Management science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1813-1826 Titre : The circulation of ideas in firms and markets Type de document : texte imprimé Auteurs : Thomas Hellmann, Auteur ; Enrico Perotti, Auteur Année de publication : 2012 Article en page(s) : pp. 1813-1826 Note générale : Management Langues : Anglais (eng) Mots-clés : Innovation  Market  for  ideas  Start-ups  Spin-offs Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper models the generation, circulation, and completion of new ideas, showing how markets and innovative firms complement each other in a symbiotic relationship. Novel ideas are initially incomplete and require further insight before yielding a valuable innovation. Finding the complementary piece requires ideas to circulate, which creates appropriation risks. Circulation of ideas in markets ensures efficient completion, but because ideas can be appropriated, market entrepreneurs underinvest in idea generation. Firms can establish boundaries that guarantee safe circulation of internal ideas, but because firms need to limit idea circulation, they may fail to achieve completion. Spin-offs allow firms to benefit from the market's strength at idea completion, whereas markets benefit from firms' strength at generating new ideas. The model predicts diverse organizational forms (internal ventures, spin-offs, and start-ups) coexisting and mutually reinforcing each other. The analysis provides new insights into the structure of innovation-driven clusters such as Silicon Valley. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1813.abstract [article] The circulation of ideas in firms and markets [texte imprimé] / Thomas Hellmann, Auteur ; Enrico Perotti, Auteur . - 2012 . - pp. 1813-1826. Management Langues : Anglais (eng) in Management science > Vol. 57 N° 10 (Octobre 2011) . - pp. 1813-1826 Mots-clés : Innovation  Market  for  ideas  Start-ups  Spin-offs Index. décimale : 658 Organisation des entreprises. Techniques du commerce Résumé : This paper models the generation, circulation, and completion of new ideas, showing how markets and innovative firms complement each other in a symbiotic relationship. Novel ideas are initially incomplete and require further insight before yielding a valuable innovation. Finding the complementary piece requires ideas to circulate, which creates appropriation risks. Circulation of ideas in markets ensures efficient completion, but because ideas can be appropriated, market entrepreneurs underinvest in idea generation. Firms can establish boundaries that guarantee safe circulation of internal ideas, but because firms need to limit idea circulation, they may fail to achieve completion. Spin-offs allow firms to benefit from the market's strength at idea completion, whereas markets benefit from firms' strength at generating new ideas. The model predicts diverse organizational forms (internal ventures, spin-offs, and start-ups) coexisting and mutually reinforcing each other. The analysis provides new insights into the structure of innovation-driven clusters such as Silicon Valley. DEWEY : 658 ISSN : 0025-1909 En ligne : http://mansci.journal.informs.org/content/57/10/1813.abstract