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Economic Welfare and the Allocation of Resources for Invention

  • Arrow K
Macmillan Education UK, (1972), 219-236
DOI: 10.1007/978-1-349-15486-9_13
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Abstract

INVENTION is here interpreted broadly as the production of know- ledge. From the viewpoint of welfare economics, the determination of optimal resource allocation for invention will depend on the tech- nological characteristics of the invention process and the nature of the market for knowledge.

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APA

Arrow, K. J. (1972). Economic Welfare and the Allocation of Resources for Invention. In Readings in Industrial Economics (pp. 219–236). Macmillan Education UK. https://doi.org/10.1007/978-1-349-15486-9_13

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