Bridging the Gap

Georg Weiers
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Georg Weiers: African Development Bank

Chapter 10 in Innovation Through Cooperation, 2014, pp 143-170 from Springer

Abstract: Abstract If innovation prizes are not the solution, how can Arrow’s paradox be solved? In some niches such as the movie industry or venture capital, trading ideas is somewhat possible. Identifying the underlying principles can help draw up a solution to make trading possible in general. Trust and fairness between the partners are essential. Research has made significant progress in analysing and finding mechanisms to support both. Establishing a reputation mechanism and norms of fairness are the most promising elements to make cooperative innovation a reality.

Keywords: Venture Capital; Innovation Process; Active Approach; Ultimatum Game; Reputation Mechanism (search for similar items in EconPapers)
Date: 2014
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DOI: 10.1007/978-3-319-00095-4_10

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