Underinvestment in Public Good Technologies

@article{Tassey2004UnderinvestmentIP,
  title={Underinvestment in Public Good Technologies},
  author={G. Tassey},
  journal={Journal of Technology Transfer},
  year={2004},
  volume={30},
  pages={89-113}
}
  • G. Tassey
  • Published 2004
  • Economics
  • Journal of Technology Transfer
Although underinvestment phenomena are the rationale for government subsidization of research and development (R&D), the concept is poorly defined and its impact is seldom quantified. Conceptually, underinvestment in industrial R&D can take the form of either a wrong amount or a suboptimal composition of R&D investment. In both cases, R&D policy has not adequately modeled the relevant economic phenomena and thus is unable to characterize, explain, and measure the underinvestment. Four factors… Expand
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