University Entrepreneurship and Professor Privilege

Reprint No. 2013:8

Author(s): Erika Färnstrand Damsgaard and Marie C. ThursbyYear: 2013 Title: Industrial and Corporate Change Volume (No.): 22 (1) Pages: 183–218
Preliminary version

University Entrepreneurship and Professor Privilege Erika Färnstrand Damsgaard and Marie C. Thursby

This article analyzes how institutional differences affect university entrepreneurship. We focus on ownership of faculty inventions, and compare two institutional regimes, the United States and Sweden. In the United States, the Bayh–Dole Act gives universities the right to own inventions from publicly funded research, whereas in Sweden, the professor privilege gives the university faculty this right. We develop a theoretical model and examine the effects of institutional differences on modes of commercialization, entrepreneurship or licenses to established firms, as well as on probabilities of successful commercialization. We find that the US system is less conducive to entrepreneurship than the Swedish system if established firms have some advantage over faculty startups, and that, on average, the probability of successful commercialization is somewhat higher in the United States. We also use the model to perform four policy experiments, as suggested by recent policy debates in both countries.

Färnstrand Damsgaard, Erika and Marie C. Thursby (2013), "University Entrepreneurship and Professor Privilege". Industrial and Corporate Change 22(1), 183–218.

Sick of Inequality?

An Introduction to the Relationship between Inequality and Health

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In this book Andreas Bergh, Therese Nilsson, IFN and Lund University, and Daniel Waldenström, IFN and Paris School of Economics, France, review the latest research on the relationship between inequality and health. What does inequality mean for our health? Does increasing income inequality affect outcomes such as obesity, life expectancy and subjective well-being?


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