Funding Scientific Knowledge: Selection, Disclosure and the Public-Private Portfolio
AbstractThis paper examines argues that while two distinct perspectives characterize the foundations of the public funding of research – filling a selection gap and solving a disclosure problem – in fact both the selection choices of public funders and their criteria for disclosure and commercialization shape the level and type of funding for research and the disclosures that arise as a consequence. In making our argument, we begin by reviewing project selection criteria and policies towards disclosure and commercialization (including patent rights) made by major funding organizations, noting the great variation between these institutions. We then provide a model of how selection criteria and funding conditions imposed by funders interact with the preferences of scientists to shape those projects that accept public funds and the overall level of openness in research. Our analysis reveals complex and unexpected relationships between public funding, private funding, and public disclosure of research. We show, for example, that funding choices made by public agencies can lead to unintended, paradoxical effects, providing short-term openness while stifling longer-term innovation. Implications for empirical evaluation and an agenda for future research are discussed.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 16980.
Date of creation: Apr 2011
Date of revision:
Publication status: published as Funding Scientific Knowledge: Selection, Disclosure and the Public-Private Portfolio , Joshua S. Gans, Fiona Murray. in The Rate and Direction of Inventive Activity Revisited , Lerner and Stern. 2012
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Other versions of this item:
- Joshua S. Gans & Fiona Murray, 2011. "Funding Scientific Knowledge: Selection, Disclosure and the Public-Private Portfolio," NBER Chapters, in: The Rate and Direction of Inventive Activity Revisited, pages 51-103 National Bureau of Economic Research, Inc.
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
- O38 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Government Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-07 (All new papers)
- NEP-EDU-2011-05-07 (Education)
- NEP-INO-2011-05-07 (Innovation)
- NEP-KNM-2011-05-07 (Knowledge Management & Knowledge Economy)
- NEP-PPM-2011-05-07 (Project, Program & Portfolio Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert E. Litan & Lesa Mitchell & E. J. Reedy, 2008. "Commercializing University Innovations: Alternative Approaches," NBER Chapters, in: Innovation Policy and the Economy, Volume 8, pages 31-57 National Bureau of Economic Research, Inc.
- Albert Banal-Estañol & Inés Macho-Stadler, 2010. "Scientific and Commercial Incentives in R&D: Research versus Development?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 19(1), pages 185-221, 03.
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