Reputational Provisions and Payment as a form of moral Satisfaction Sample Clauses

Reputational Provisions and Payment as a form of moral Satisfaction. Finally, it is worth highlighting that many agreements include “reputational” clauses, according to which the provider requires to be formally and publicly acknowledged in scientific publications and presentations. Such provisions appear to be very important to the parties and represent a short‐run (in the absence of monetary benefits) form of reward and non‐monetary payment. In the case at study, interpreting the analysed contractual sample in a (economic theory) neoclassical framework, may lead to concluding that the (frequent) lack of a payment for the ecosystem service is due to a parties’ low valuation of the access/exchange. The recipient is rationally attempting to get the material at the lowest price, given the uncertain outcomes of his/her scientific and R&D activity. The provider might attach a low valuation to the resource per se, because “producing” the material implies a cheap technology or for some informational asymmetry. In this case, the use of long‐term contracts that rely on repeated exchanges along time does not seem economically rational. A low valuation of the exchange is coherent with, a low/no price, one‐shot transaction. In the selected contracts sample, in fact, parties are long‐term committed to access/trade material, in exchange, in certain cases, of monetary (expected) benefits, like sharing the royalties in case of successful commercialization of a new drug; in certain cases of non‐monetary benefits, provided by the recipient technological and human capital comparative advantage; in other cases, in exchange of both or none of them. In addition, in most cases a payment for the material per se is not even prescribed for. Probably aware of the complexity and uncertainty of the recipient’s research activity, the provider requires to be compensated through the recognition of his/her important input to the research venture. In economics, this can be interpreted as payment in terms of moral satisfaction. At the same time, the recipient may feel spurred to transfer technology and expertise, despite the positive or negative research outcome and the probabilistic sharing of future (expected) royalties. Capacity strengthening interventions are activities that generate moral satisfaction in the spirit of common collaboration for a joint endeavour. In addition, the awareness to participate to a long‐term, uncertain and risky, but innovative and creative project, might generate cohesion among the parties, and all that are previously or subs...