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Financial Incentives in Academia: Research versus Development

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Author Info
Albert Banal-Estañol ()
Inés Macho-Stadler ()

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Abstract

This paper investigates the effects of monetary rewards on the pattern of research. We build a simple repeated model of a researcher capable to obtain innovative ideas. We analyse how the legal environment affects the allocation of researcher?s time between research and development. Although technology transfer objectives reduce the time spent in research, they might also induce researchers to conduct research that is more basic in nature, contrary to what the ?skewing problem? would presage. We also show that our results hold even if development delays publication.

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Publisher Info
Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 693.07.

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Length: 23
Date of creation: 13 Apr 2007
Date of revision:
Handle: RePEc:aub:autbar:693.07

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Related research
Keywords: Faculty behaviour basic vs. applied research

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Find related papers by JEL classification:
I23 - Health, Education, and Welfare - - Education - - - Higher Education Research Institutions
L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs
M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
O31 - Economic Development, Technological Change, and Growth - - Technological Change - - - Innovation and Invention: Processes and Incentives

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References listed on IDEAS
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  1. Jerry G. Thursby & Marie C. Thursby, 2000. "Who is Selling the Ivory Tower? Sources of Growth in University Licensing," NBER Working Papers 7718, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. McMillan, G. Steven & Narin, Francis & Deeds, David L., 2000. "An analysis of the critical role of public science in innovation: the case of biotechnology," Research Policy, Elsevier, vol. 29(1), pages 1-8, January. [Downloadable!] (restricted)
  3. Geuna, Aldo & Nesta, Lionel J.J., 2006. "University patenting and its effects on academic research: The emerging European evidence," Research Policy, Elsevier, vol. 35(6), pages 790-807, July. [Downloadable!] (restricted)
  4. Mowery, David C. & Ziedonis, Arvids A., 2002. "Academic patent quality and quantity before and after the Bayh-Dole act in the United States," Research Policy, Elsevier, vol. 31(3), pages 399-418, March. [Downloadable!] (restricted)
  5. Richard Jensen & Marie Thursby, 2001. "Proofs and Prototypes for Sale: The Licensing of University Inventions," American Economic Review, American Economic Association, vol. 91(1), pages 240-259, March. [Downloadable!] (restricted)
  6. Narin, Francis & Hamilton, Kimberly S. & Olivastro, Dominic, 1997. "The increasing linkage between U.S. technology and public science," Research Policy, Elsevier, vol. 26(3), pages 317-330, October. [Downloadable!] (restricted)
  7. Benjamin F. Jones, 2005. "Age and Great Invention," NBER Working Papers 11359, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Debackere, Koenraad & Veugelers, Reinhilde, 2005. "The role of academic technology transfer organizations in improving industry science links," Research Policy, Elsevier, vol. 34(3), pages 321-342, April. [Downloadable!] (restricted)
  9. Marie Thursby & Jerry Thursby & Swasti Gupta-Mukherjee, 2005. "Are There Real Effects of Licensing on Academic Research? A Life Cycle View," NBER Working Papers 11497, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Beggs, A. W., 1992. "The licensing of patents under asymmetric information," International Journal of Industrial Organization, Elsevier, vol. 10(2), pages 171-191, June. [Downloadable!] (restricted)
  11. Jensen, Richard A. & Thursby, Jerry G. & Thursby, Marie C., 2003. "Disclosure and licensing of University inventions: 'The best we can do with the s**t we get to work with'," International Journal of Industrial Organization, Elsevier, vol. 21(9), pages 1271-1300, November. [Downloadable!] (restricted)
  12. Lach, Saul & Schankerman, Mark, 2003. "Incentives and Invention in Universities," CEPR Discussion Papers 3916, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  13. Macho-Stadler, Ines & Martinez-Giralt, Xavier & David Perez-Castrillo, J., 1996. "The role of information in licensing contract design," Research Policy, Elsevier, vol. 25(1), pages 43-57, January. [Downloadable!] (restricted)
    Other versions:
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