Show Less

Science and Innovation

Rethinking the Rationales for Funding and Governance

Edited by Aldo Geuna, Ammon J. Salter and W. Edward Steinmueller

This book re-examines the rationale for public policy, concluding that the prevailing ‘public knowledge’ model is evolving towards a networked or distributed model of knowledge production and use in which public and private institutions play complementary roles. It provides a set of tools and models to assess the impact of the new network model of funding and governance, and argues that governments need to adapt their funding and administrative priorities and procedures to support the emergence and healthy growth of research networks. The book goes on to explain that interdependencies and complementarities in the production and distribution of knowledge require a new and more contextual, flexible and complex approach to government funding, monitoring and assessment.
Buy Book in Print
Show Summary Details
You do not have access to this content


Cristiano Antonelli and Bronwyn H. Hall


CRISTIANO ANTONELLI* 1 In the Matter of the Knowledge Commons Important shifts in the economics of knowledge have occurred in recent years. Consensus on the analysis of the public good characters of knowledge has been first contrasted to, and eventually substituted by, the new argument about the quasi-private nature of technological knowledge. The appreciation of demand-side externalities and external knowledge at large has called for renewed interest in the mechanisms of governance upon which the production and the distribution of knowledge builds. The understanding of multiple equilibria and micro–macro feedbacks refocuses attention on the crucial role of economic policy which had important consequences for the institutional design of the organization of the production and distribution of knowledge. The process by which this shift in the economics of knowledge has occurred can be summarized in three stages. The first recalls the ingredients of the great swing from the build-up of the public knowledge commons to the wave of privatizations and liberalization. Identification of the central role of external knowledge in the production of new knowledge marks the second step, where the discovery of the knowledge trade-off stresses the role of the governance in all interactions and exchanges for knowledge. Understanding of the instability of market interactions in the production and distribution of technological knowledge should pave the way to the third step, where a new scope for an economic policy able to manage dynamic coordination issues is identified. 2 The Great Swing The seminal contributions of Kenneth Arrow...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.