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External knowledge sourcing: science, market and the value of patented inventions
Author(s) -
Schneider Cédric
Publication year - 2009
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.1474
Subject(s) - subadditivity , value (mathematics) , sociology of scientific knowledge , business , industrial organization , economics , knowledge management , computer science , mathematics , sociology , social science , discrete mathematics , machine learning
This paper analyzes the choice between alternative sources of knowledge in patented inventions. Inventors can use scientific and/or market‐oriented sources of knowledge. We formally test whether these two types of knowledge acquisition are complementary or substitutable in the value of patented inventions. The results suggest that simultaneous exploitation of different knowledge inputs is ‘subadditive’ since inventors would have to manage assimilation and integration of disparate items of external knowledge stemming from distant technological contexts. Copyright © 2009 John Wiley & Sons, Ltd.