Public Goods, Public Gains: Calculating the Social Benefits of Public R&D

Albert N. Link · John T. Scott

Jan 2011 · Oxford University Press

About this ebook

In Public Goods, Public Gains, Link and Scott discuss the systematic application of alternative evaluation methods to estimate the social benefits of publicly financed research and development (R&D). The authors argue that economic theory should be the guiding criterion for any method of program evaluation because it focuses attention on the value and the opportunity costs of the program. The evaluation methods discussed and illustrated are both economics and, for comparison, non-economics based. The book is motivated by four foundation chapters that discuss government's role in innovation from the perspective of economic theory, review public accountability issues from both a constitutional and an historical perspective, overview systematic approaches to program evaluation, and describe the evaluation metrics typically used. Four case studies illustrate the four alternative evaluation approaches discussed. These case studies are for the U.S. Advanced Technology Program's intramural research awards program, the U.S. National Institute of Standards and Technology's research on wavelength references for optical fiber communications, the U.S. Malcolm Baldrige National Quality Award, and the Advanced Technology Program's focused program on the integration of manufacturing applications.

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About the author

Albert N. Link is Professor of Economics at the University of North Carolina at Greensboro. His research focuses on innovation policy, academic entrepreneurship, and the economics of R&D. He is the Editor-in-Chief of the Journal of Technology Transfer. Professor Link is serving as the vice-chairperson of the Innovation and Competitiveness Policies Committee of the United Nation's Economic Commission for Europe (UNECE). John T. Scott is Professor of Economics at Dartmouth College. His research is in the areas of industrial organization and the economics of technological change. He has served as the President of the Industrial Organization Society and on the editorial boards of the International Journal of Industrial Organization, the Review of Industrial Organization, and The Journal of Industrial Economics.