Social Insurance and the Design of Innovation Incentives
ResearchPosted on rand.org 2004Published in: Economics Letters, v. 85, no. 1, Oct. 2004, p. 57-61
The authors consider the insurance aspects of research policy. Patents or rewards have an advantage over research subsidies when a new invention replaces an existing good at lower cost. Research subsidies have an advantage when inventions spawn an entirely new product.
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Document Details
- Copyright: Elsevier B.V
- Availability: Non-RAND
- Year: 2004
- Pages: 5
- DOI: https://doi.org/10.7249/pubs
- Document Number: EP-200410-16
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