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Designing Scientific Grants

Author

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  • Christoph Carnehl
  • Marco Ottaviani
  • Justus Preusser

Abstract

This paper offers an overview of the economics of scientific grants, focusing on the interplay between the inherent uncertainty in research, researchers’ incentives, and grant design. Grants differ from traditional market systems and other science and innovation policy tools, such as prizes and patents. We outline the main economic forces specific to science, noting the limited attention given to grant funding in the economics literature. Using tools from information economics, we identify key incentive problems at various stages of the grant funding process and offer guidance for effective grant design.

Suggested Citation

  • Christoph Carnehl & Marco Ottaviani & Justus Preusser, 2025. "Designing Scientific Grants," Entrepreneurship and Innovation Policy and the Economy, University of Chicago Press, vol. 4(1), pages 139-178.
    • Handle: RePEc:ucp:eipoec:doi:10.1086/732856
    DOI: 10.1086/732856
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