Public Gains from Entrepreneurial Research: Inferences about the Economic Value of Public Support of the Small Business Innovation Research Program
This paper presents a systematic analysis of the net economic benefits associated with the Small Business Innovation Research (SBIR) program. We offer a derivation of producer and consumer surplus to estimate economic benefits. Fundamental to the implementation of these models is a specific value of the elasticity of demand, but in its absence we estimate what its value would be when the benefit-to-cost ratio associated with public support of the SBIR program equals unity. We infer from these calculations, and from general knowledge about the ability of SBIR-funded firms to exploit their monopoly position, that the SBIR program likely generates positive net economic benefits to society.
|Date of creation:||27 Feb 2012|
|Date of revision:|
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- Albert N. Link & John T. Scott, 2012.
"Employment growth from public support of innovation in small firms,"
Economics of Innovation and New Technology,
Taylor & Francis Journals, vol. 21(7), pages 655-678, October.
- Albert N. Link & John T. Scott, 2012. "Employment Growth from Public Support of Innovation in Small Firms," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number eg, December.
- Link, Albert N. & Scott, John T., 2011. "Employment Growth from Public Support of Innovation in Small Firms," Working Papers 11-17, University of North Carolina at Greensboro, Department of Economics.
- H. Spencer Banzhaf, 2009. "Objective or Multi-Objective? Two Historically Competing Visions for Benefit-Cost Analysis," Land Economics, University of Wisconsin Press, vol. 85(1), pages 3-23.
- Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
- Link, Albert N. & Scott, John T., 2011. "Public Goods, Public Gains: Calculating the Social Benefits of Public R&D," OUP Catalogue, Oxford University Press, number 9780199729685.
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