Knowledge as property rights under the ratchet effect of innovation

• المؤلف الرئيسي: Tan, Teck Yong
• مؤلفون آخرون: School of Social Sciences
• التنسيق: مقال
• اللغة: English
• منشور في: 2021
• الموضوعات: Social sciences::Economic theory; Firm Behavior; Economics of Contract
• الوصول للمادة أونلاين: https://hdl.handle.net/10356/145747

This paper studies how reduced oversight creates an incentive for process innovation. With incomplete contracts, tight monitoring of workers creates a ratchet effect of innovation. Under reduced oversight, a worker accrues private knowledge about his innovation, which serves as a substitute for its...