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Published by: University of California, Berkeley
Published in: "California Management Review", 2005

Abstract

Advances in information technology, together with increasing economic globalization, are creating dilemmas regarding the levels of definition of property rights that exist with respect to knowledge based resources. The issues at stake include enforcing property rights of companies without alienating consumers and making knowledge based resources affordable. Proposes a framework to help resolve these dilemmas and predict the costs vs benefits of defining the property rights over resources. The costs vs benefits are mainly determined by: (1) capture costs and rent dissipation created by non-exclusivity of the resource; (2) exchange and policing costs related to the resource; (3) costs of reduced investment created by non-exclusivity of the resource; (4) exchange value of the resource; and (5) the social costs of exclusivity of the resource.

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Abstract

Advances in information technology, together with increasing economic globalization, are creating dilemmas regarding the levels of definition of property rights that exist with respect to knowledge based resources. The issues at stake include enforcing property rights of companies without alienating consumers and making knowledge based resources affordable. Proposes a framework to help resolve these dilemmas and predict the costs vs benefits of defining the property rights over resources. The costs vs benefits are mainly determined by: (1) capture costs and rent dissipation created by non-exclusivity of the resource; (2) exchange and policing costs related to the resource; (3) costs of reduced investment created by non-exclusivity of the resource; (4) exchange value of the resource; and (5) the social costs of exclusivity of the resource.

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