Journal ArticleDOI
The importance of “spillovers” in the policy mission of the advanced technology program
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In this paper, the analysis of the spillover gap between the social and private rates of return to a proposed project is considered in the context of the Advanced Technology Program (ATP).Abstract:
Government policies like the Advanced Technology Program (“ATP”) are intended, at least in part, to remedy the “market failure” inherent in the fact that a significant portion of the social benefits of new knowledge and technology are not captured by a firm that invests in R&D. ATP’s project selection, and its evaluation of the impact of its program, can be made more effective by explicitly incorporating the analysis of such “spillovers.” For project selection, this means identifying technological, organizational and economic factors that tend to oint to a large “spillover gap,” or deviation between the social and private rates of return to a proposed project. For program evaluation and assessment, it means adapting existing study methods that measure social returns to innovation in ways that explicitly capture spillover effects.read more
Citations
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Journal ArticleDOI
Environmental policy and technological change
TL;DR: The relationship between technological change and environmental policy has received increasing attention from scholars and policy makers alike over the past ten years as discussed by the authors, partly because the environmental impacts of social activity are significantly affected by technological change, and partly because environmental policy interventions themselves create new constraints and incentives that affect the process of technological developments.
ReportDOI
Technological change and the environment
TL;DR: In this article, the authors summarized current thinking on technological change in the broader economics literature, surveys the growing economic literature on the interaction between technology and the environment, and explores the normative implications of these analyses.
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Second-best theory and the use of multiple policy instruments
TL;DR: In this article, the authors argue that under a broad set of circumstances the use of multiple policy instruments can be justified as optimal in a second-best world, and examine two broad categories of second best policy making: cases with multiple market failures only some of which can be corrected at any one time; and cases with exogenous (often political) constraints that cannot be removed.
Journal ArticleDOI
Evaluating technology programs: tools and methods
TL;DR: New approaches to measuring the payoffs from research that focus on linkages between knowledge producers and users, and on the characteristics of research networks, appear promising as the limitations of the production function and related methods have become apparent.
References
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Book
Principles of Economics
TL;DR: In this article, the authors present a survey of the general relations of demand, supply, and value in terms of land, labour, capital, and industrial organization, with an emphasis on the fertility of land.
Journal ArticleDOI
Innovation and Learning: The Two Faces of R & D
TL;DR: In this paper, the authors assume that firms invest in R&D not only to generate innovations, but also to learn from competitors and extraindustry knowledge sources (e.g., university and government labs).
Book
Geography and Trade
TL;DR: Paul Krugman as mentioned in this paper argues that the location of production in space is a key issue both within and between nations and provides a stimulating synthesis of ideas in the literature and describes new models for implementing a study of economic geography that could change the nature of the field.
Journal ArticleDOI
Appropriating the Returns from Industrial Research and Development
Richard C. Levin,Alvin K. Klevorick,Richard R. Nelson,Sidney G. Winter,Richard Gilbert,Zvi Griliches +5 more
TL;DR: A patent confers, in theory, perfect appropriability (monopoly of the invention) for a limited time in return for a public benefit as mentioned in this paper, however, the benefits consumers derive from an innovation, however, are increased if competitors can imitate and improve on the innovation to ensure its availability on favorable terms.
Posted Content
Technological Opportunity and Spillovers of R&D: Evidence from Firms' Patents, Profits and Market Value
TL;DR: In this article, the authors present evidence that firms' patents, profits and market value are systematically related to the technological position of firms' research programs, and that firms are seen to "move" in technology space in response to the pattern of contemporaneous profits at different positions.