The role of information asymmetry in the market for university-industry research collaboration

Abstract: This study concerns the market for research collaboration between industry and universities. It presents an analysis of the population of all Italian university-industry collaborations that resulted in at least one international scientific publication between 2001 and 2003. Using spatial and bibliometric analysis relating to scientific output of university researchers, the study shows the importance of geographic proximity in companies' choices of university partner. The analysis also reveals inefficiency in the market: in a large proportion of cases private companies could have chosen more qualified research partners in universities located closer to the place of business.