Public sector entrepreneurship refers to innovative public policy initiatives that generate greater economic prosperity by transforming a status-quo economic environment into one that is more conducive to economic units engaging in creative activities in the face of uncertainty. In today’s economy, public sector entrepreneurship affects that transformation primarily by increasing the effectiveness of knowledge networks; that is, by increasing the heterogeneity of experiential ties among economic units and the ability of those same economic units to exploit such diversity. Through policy initiatives that are characterized by public sector entrepreneurship, there will be more development of new technology and hence more innovation throughout the economy.
The United States has supported research and development activity on both the applied and basic research levels for most of its history. The importance of public sector research has often been discussed but its effectiveness has not been adequately reviewed. The need for evaluation of public sector research and development activity is critical in today's political environment to assist policymakers with resource allocation. Methodology for evaluating public sector research and development activity is described and illustrated by the author using in-depth case studies drawn from the research programs at the National Institute of Standards and Technology. These cases range from newly formed federal laboratory research initiatives to well-established research programs. Managerial and evaluative guidelines are enunciated.
This work should be of interest to scholars who deal with economics in general, public policy, science policy, and public administration. In addition, practitioners in public administration and managers of public sector research laboratories on federal and state levels should find the information useful. Those who depend on research and development done with public sector money or who use it to supplement their research programs will also be interested.
While Link and Boger cover the mechanical science of business valuation, they also concentrate on the intuitive art of valuation, emphasizing the distinction between the two. Based on more than three decades of valuation experience and teaching of the associated methodologies, they give the novice valuator an understanding of the elements of art and science in the practice of business valuation and an appreciation that both elements are important. A valuable tool for students and professionals dealing with business valuation issues.
There is a growing consensus in the field of economics that knowledge, technological knowledge in particular, is one of the most relevant resources of wealth, yet it is one of the most difficult and complex activities to understand or even to conceptualize. The economics of knowledge is an emerging field that explores the generation, exploitation, and dissemination of technological knowledge. Technological knowledge cannot any longer be regarded as a homogenous good that stems from standardized generation processes. Quite the opposite, technological knowledge appears more and more to be a basket of heterogeneous items, resources, and even experiences. All of these sources, which are both internal and external to the firm, are complementary, as is the interplay between a bottom-up and top-down generation processes. In this context, the interactions between the public research system, private research laboratories, and various networks of learning processes, within and among firms, play a major role in the creation of technological knowledge.
In this Handbook special attention is given to the relationship among technological knowledge and both upstream scientific knowledge and related downstream resources. By addressing the antecedents and consequences of technological knowledge from both an upstream and downstream perspective, this Handbook will become an indispensable tool for scholars and practitioners aiming to master the generation and the use of technological knowledge.
Electric drive vehicles (EDVs) are seen on American roads in increasing numbers. Related to this market trend and critical for it to increase are improvements in battery technology. Battery Technology for Electric Vehicles examines in detail at the research support from the U.S. Department of Energy (DOE) for the development of nickel-metal-hydride (NiMH) and lithium-ion (Li-ion) batteries used in EDVs. With public support comes accountability of the social outcomes associated with public investments.
The book overviews DOE investments in advanced battery technology, documents the adoption of these batteries in EDVs on the road, and calculates the economic benefits associated with these improved technologies. It provides a detailed global evaluation of the net social benefits associated with DOEs investments, the results of the benefit-to-cost ratio of over 3.6-to-1, and the life-cycle approach that allows adopted EDVs to remain on the road over their expected future life, thus generating economic and environmental health benefits into the future.
The individual chapters are generally empirically or public policy oriented. A number of them introduce new sources of data that, combined with the application of appropriate econometric techniques, enable new breakthroughs and insights on issues hotly debated in the industrial organization literature. For example, five of the chapters are devoted towards uncovering the link between market concentration and pricing behavior. While theoretical models have produced ambiguous predictions concerning the relationship between concentration and price these chapters, which span a number of different markets and situations, provide unequivocal evidence that a high level of market concentration tends to result in a higher level of prices. Three of the chapters explore the impact of market structure on production efficiency, and three other chapters focus on the role of industrial organization on public policy.
Contributors include David B. Audretsch, Richard E. Caves, Mark J. Roberts, F.M. Scherer, John J. Siegfried and Hideki Yamawaki.