Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program
AbstractThis article presents a systematic analysis of the net economic benefits associated with the Small Business Innovation Research (SBIR) program. We offer a derivation of producer and consumer surplus to estimate economic benefits. Fundamental to the implementation of these models is a specific value of the elasticity of demand, but in its absence we estimate what its value would be when the benefit-to-cost ratio associated with public support of the SBIR program equals unity. We infer from these calculations, and from general knowledge about the ability of SBIR-funded firms to exploit their monopoly position, that the SBIR program likely generates positive net economic benefits to society. Copyright The Author 2012. Published by Oxford University Press. All rights reserved. For Permissions, please email: firstname.lastname@example.org, Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Research Evaluation.
Volume (Year): 21 (2012)
Issue (Month): 2 (March)
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Other versions of this item:
- Allen, Stuart D. & Layson, Stephen K. & L, Albert N., 2012. "Public Gains from Entrepreneurial Research: Inferences about the Economic Value of Public Support of the Small Business Innovation Research Program," Working Papers 12-4, University of North Carolina at Greensboro, Department of Economics.
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- O22 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Project Analysis
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
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- Albert N. Link & John T. Scott, 2012.
"Employment Growth from Public Support of Innovation in Small Firms,"
Books from Upjohn Press,
W.E. Upjohn Institute for Employment Research, number eg, October.
- Albert N. Link & John T. Scott, 2012. "Employment growth from public support of innovation in small firms," Economics of Innovation and New Technology, Taylor and Francis Journals, vol. 21(7), pages 655-678, October.
- Link, Albert N. & Scott, John T., 2011. "Employment Growth from Public Support of Innovation in Small Firms," Working Papers 11-17, University of North Carolina at Greensboro, Department of Economics.
- Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
- H. Spencer Banzhaf, 2009. "Objective or Multi-Objective? Two Historically Competing Visions for Benefit-Cost Analysis," Land Economics, University of Wisconsin Press, vol. 85(1), pages 3-23.
- Link, Albert N. & Scott, John T., 2011. "Public Goods, Public Gains: Calculating the Social Benefits of Public R&D," OUP Catalogue, Oxford University Press, number 9780199729685.
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