Knowledge, Resources and Markets: What Economic System of Valuation?

Regional Studies. Exploring in ever more detail learning processes at the root of economic change, main territorial innovation models (TIMs) remain focused on production today. Thus consumption is most often assessed as an abstract demand expressed by exogenous market mechanisms. In a socio-institutional approach, this article conceptualizes an economic system in which knowledge is a constructed resource valued in a market through the co-evolution of a production and a consumption system. From a meta-synthesis of various case studies, the paper draws four ideal types of economic systems and their related territorial knowledge dynamics (TKDs): knowledge marketization, knowledge improvement, knowledge adaptation and knowledge co-development.