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Social and Private Rates of Return from Industrial Innovations


  • Edwin Mansfield
  • John Rapoport
  • Anthony Romeo
  • Samuel Wagner
  • George Beardsley


I. Introduction, 221.—II. The sample of innovations, 222.—III. Estimation of social benefits: product innovations used by firms, 222.—IV. Parallel innovative efforts, time horizon, and rates of return, 226.—V. Product innovations used by households, 229.—VI. Process innovations, 231.—VII. Social and private rates of return, 233.—VIII. Factors associated with the gap between social and private rates of return, 235.—IX. Unemployment, repercussions on other markets, and future changes in technology, 238.—X. Conclusion, 239.

Suggested Citation

  • Edwin Mansfield & John Rapoport & Anthony Romeo & Samuel Wagner & George Beardsley, 1977. "Social and Private Rates of Return from Industrial Innovations," The Quarterly Journal of Economics, Oxford University Press, vol. 91(2), pages 221-240.
  • Handle: RePEc:oup:qjecon:v:91:y:1977:i:2:p:221-240.

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    References listed on IDEAS

    1. Bhagwati, Jagdish N. & Srinivasan, T. N., 1973. "The general equilibrium theory of effective protection and resource allocation," Journal of International Economics, Elsevier, vol. 3(3), pages 259-281, August.
    2. Parish, Ross M & Ng, Yew-Kwang, 1972. "Monopoly, X-Efficiency and the Measurement of Welfare Loss," Economica, London School of Economics and Political Science, vol. 39(155), pages 301-308, August.
    3. Schwartzman, David, 1973. "Competition and Efficiency: Comment," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 756-764, May-June.
    4. Crew, M A & Rowley, C K, 1971. "On Allocative Efficiency, X-Efficiency and the Measurement of Welfare Loss," Economica, London School of Economics and Political Science, vol. 38(150), pages 199-203, May.
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