Academic Freedom, Private-Sector Focus, and the Process of Innovation

Academic Freedom, Private-Sector Focus, and the Process of Innovation

DSpace/Manakin Repository

Academic Freedom, Private-Sector Focus, and the Process of Innovation

dc.contributor.author	Aghion, Philippe
dc.contributor.author	Dewatripont, Mathias
dc.contributor.author	Stein, Jeremy C.
dc.date.accessioned	2010-02-12T17:17:56Z
dc.date.issued	2008
dc.identifier.citation	Aghion, Philippe, Mathias Dewatripont, and Jeremy C. Stein. 2008. Academic freedom, private-sector focus, and the process of innovation. The RAND Journal of Economics 39, no. 3: 617-635.	en_US
dc.identifier.issn	0741-6261	en_US
dc.identifier.uri	http://nrs.harvard.edu/urn-3:HUL.InstRepos:3637074
dc.description.abstract	We develop a model that clarifies the respective advantages and disadvantages of academic and private-sector research. Rather than relying on lack of appropriability or spillovers to generate a rationale for academic research, we emphasize control-rights considerations, and argue that the fundamental tradeoff between academia and the private sector is one of creative control versus focus. By serving as a precommitment mechanism that allows scientists to freely pursue their own interests, academia can be indispensable for early-stage research. At the same time, the private sector's ability to direct scientists toward higher-payoff activities makes it more attractive for later-stage research.	en_US
dc.description.sponsorship	Economics	en_US
dc.language.iso	en_US	en_US
dc.publisher	RAND Corporation	en_US
dc.relation.isversionof	http://dx.doi.org/10.1111/j.1756-2171.2008.00031.x	en_US
dc.relation.hasversion	http://www.economics.harvard.edu/faculty/aghion/papers_aghion	en_US
dash.license	META_ONLY
dc.title	Academic Freedom, Private-Sector Focus, and the Process of Innovation	en_US
dc.type	Journal Article	en_US
dc.description.version	Accepted Manuscript	en_US
dc.relation.journal	The RAND Journal of Economics	en_US
dash.depositing.author	Aghion, Philippe
dash.embargo.until	10000-01-01