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The Economics of Knowledge

  • Cristiano AntonelliEmail author
Chapter

Abstract

This chapter summarizes the main achievements of the economics of knowledge with special attention to the central role of the limited exhaustibility of knowledge and its implications in terms of cumulability and extensibility. It recalls the early economics of knowledge. It explores the generation and exploitation of knowledge with the technology production function and the knowledge generation function. It elaborates the knowledge appropriability trade-off, analyzes the problems of the provision of funds to innovation, and highlights the relationships between knowledge externalities and total factor productivity stressing the new trends toward the capitalization of knowledge as a financial asset.

Keywords

Limited appropriability of knowledge Limited exhaustibility of knowledge Knowledge accumulation Knowledge generation and exploitation Knowledge and imitation externalities Technology production function Knowledge generation function General intellect 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.Dipartimento Di Economia E Statistica Cognetti De Martiis, Collegio Carlo AlbertoUniversity of TurinTurinItaly

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