Economics, Incentives and Knowledge Creation

This paper looks at the question of economic incentives for knowledge creation. And the Knowledge creation today is known as profit motive with strong incentives for knowledge mangement. However, since the creation of knowledge has costs and market risks towards profit in the private sector that might result in undertaking projects and treat as myopic; To have a quick paybacks and shorten horizons at the expense of projects with longer–term horizons with larger risk commitments, needs greater social value under a parametric approach. Overall, a complete discussion along with some implications for knowledge creation and management has been highlighted in this paper.