Transforming Biorisks and the Commercialization of Human Genetic Testing
January 23 2006
Venue: Seminar Rm 1.06 Old Surgeons' Hall, High School Yards
This paper explores how firms can use complementary assets to dis-appropriate the risks of technical change. Based on case studies of the commercialization of genetic testing in the UK the paper shows how firms can strategically alter the social distribution of risk to their advantage by managing and transforming distinct types of risk using different institutions with diverse risk-management capabilities. The paper highlights the specific risk-management capabilities of the state that are not available to either firms or markets, and their role in supporting technical change. Implications for policy and the academic understanding of technical change and risk are discussed.