The Management of Innovation

@inproceedings{Aghion2008TheMO,
  title={The Management of Innovation},
  author={Philippe Aghion and Jean Tirole},
  year={2008}
}
The paper analyzes the organization of the R&D activity in an incomplete contract framework. It provides theoretical foundations: (a) to understand how the allocation of property rights on innovations may affect both the frequency and the magnitude of these innovations; (b) to rationalize commonly observed features in research employment contracts, such as shop rights, trailer clauses, and the "hired for" doctrine; (c) to discuss the robustness of the so-called Schumpeterian hypotheses to… CONTINUE READING
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