Subsidizing the R&D Expenditures for a Monopoly Firm: Advice for NIST
AbstractThe Advanced Technology Program (ATP) of the National Institute for Standards and Technology (NIST) subsidizes the R&D expenditure of large single firms at a maximum rate of 40%. The theoretical analysis herein of a monopoly innovator suggests that this subsidy rate is about socially optimal when spillovers to other industries are small and only incremental R&D expenditure is subsidized. The optimal subsidy when these two conditions are not met is also discussed.
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Bibliographic InfoArticle provided by Missouri Valley Economic Association in its journal The Journal of Economics.
Volume (Year): 33 (2007)
Issue (Month): 2 ()
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