An Evaluation of Federal Policy Instruments to Stimulate Basic Research in Industry
A model of the resource allocation behavior of a group of firms demonstrates that unaided industry allocation to basic (inappropriable) research is suboptimal. Furthermore, provision of seed money is generally counterproductive, while the provision of a matching subsidy is not very cost-efficient in increasing the allocation. Innovative policy alternatives are proposed.
Volume (Year): 29 (1983)
Issue (Month): 9 (September)
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