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Financial Incentives in Academia: Research versus Development

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Author Info
Albert Banal-Estañol () (Department of Economics, City University, London)
Inés Macho-Stadler () (Universitat Autònoma de Barcelona, Departament d’Economia i d’Història Econòmica)

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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 Department of Economics, City University, London in its series City University Economics Discussion Papers with number 07/09.

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Length: 23 pages
Date of creation: Apr 2007
Date of revision:
Handle: RePEc:cty:dpaper:0709

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Related research
Keywords: Faculty behaviour; basic versus applied research; choice of projects;

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Find related papers by JEL classification:
O32 - Economic Development, Technological Change, and Growth - - Technological Change - - - Management of Technological Innovation and R&D

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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. Martin J. Osborne & Ariel Rubinstein, 1994. "A Course in Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650401.
    Other versions:
  3. 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)
  4. 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)
  5. Benjamin F. Jones, 2005. "Age and Great Invention," NBER Working Papers 11359, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  6. 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)
  7. Nancy T. Gallini & Brian D. Wright, 1990. "Technology Transfer under Asymmetric Information," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 147-160, Spring. [Downloadable!] (restricted)
  8. 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)
  9. 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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  10. 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)
  11. 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)
  12. Ines Macho-stadler & David Perez-castrillo, 1991. "Contrats de licences et asymétrie d'information," Annales d'Economie et de Statistique, ADRES, issue 24, pages 08, Octobre-D. [Downloadable!]
  13. Jerry Thursby & Marie Thursby, 2005. "Gender Patterns of Research and Licensing Activity of Science and Engineering Faculty," The Journal of Technology Transfer, Springer, vol. 30(4), pages 343-353, October. [Downloadable!] (restricted)
  14. 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)
  15. 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)
    Other versions:
  16. 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)
  17. 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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