Science versus Profit in Research: Lessons from the Human Genome Project
AbstractThis Paper elaborates on the recent race to sequence the human genome. Starting from the debate arising from the genome case on public versus private research, the Paper shows that in some fundamental research areas, where knowledge externalities play an important role, market and non-market allocation mechanisms do coexist and should coexist in order to ensure socially desirable achievements. A game-theoretic model makes it possible to demonstrate the above results and to characterize some features of an optimal research policy.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2890.
Date of creation: Jul 2001
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Find related papers by JEL classification:
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- H40 - Public Economics - - Publicly Provided Goods - - - General
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
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