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Universities and the Knowledge Economy

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  • Cowan,Robin

    (MERIT)

Abstract

The simplest rationale for the existence of a publicly funded university is that it provides some form of public good. If all the outputs of a university were privately owned, and privately appropriable, there would be no need for public funding. Either firms would fund the research and training which could be internalized by themselves, or students could fund the teaching through higher future earnings. Consequently, one way to pose the issue of the future role of universities is to ask what public goods they can provide that cannot be provided in other ways.....

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Bibliographic Info

Paper provided by Maastricht University, Maastricht Economic Research Institute on Innovation and Technology (MERIT) in its series Research Memorandum with number 027.

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Date of creation: 2005
Date of revision:
Handle: RePEc:unm:umamer:2005027

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Keywords: Economics of Technology;

References

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  1. Eric von Hippel, 1986. "Lead Users: A Source of Novel Product Concepts," Management Science, INFORMS, vol. 32(7), pages 791-805, July.
  2. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297.
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Cited by:
  1. Akcomak, Semih & ter Weel, Bas, 2006. "Social Capital, Innovation and Growth: Evidence from Europe," MERIT Working Papers 040, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
  2. Larsen, Maria Theresa, 2011. "The implications of academic enterprise for public science: An overview of the empirical evidence," Research Policy, Elsevier, vol. 40(1), pages 6-19, February.

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