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dc.contributor.authorAghion, Philippe
dc.contributor.authorDewatripont, Mathias
dc.contributor.authorStein, Jeremy C.
dc.date.accessioned2010-02-12T17:17:56Z
dc.date.issued2008
dc.identifier.citationAghion, 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.issn0741-6261en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:3637074
dc.description.abstractWe 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.sponsorshipEconomicsen_US
dc.language.isoen_USen_US
dc.publisherRAND Corporationen_US
dc.relation.isversionofhttp://dx.doi.org/10.1111/j.1756-2171.2008.00031.xen_US
dc.relation.hasversionhttp://www.economics.harvard.edu/faculty/aghion/papers_aghionen_US
dash.licenseMETA_ONLY
dc.titleAcademic Freedom, Private-Sector Focus, and the Process of Innovationen_US
dc.typeJournal Articleen_US
dc.description.versionAccepted Manuscripten_US
dc.relation.journalThe RAND Journal of Economicsen_US
dash.depositing.authorAghion, Philippe
dash.embargo.until10000-01-01
dc.identifier.doi10.1111/j.1756-2171.2008.00031.x*
dash.contributor.affiliatedAghion, Philippe
dash.contributor.affiliatedStein, Jeremy


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