(Wednesday, 23rd May 2007)
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In Europe about half of R&D is paid for by the public sector. Yet the public controversy over R&D incentives is largely about the efficacy of intellectual property rights. In this lecture we ask in what circumstances it is better to rely on intellectual property rights and in what circumstances other incentive mechanisms do better. We discuss various incentive mechanisms used by the public sector to sponsor research, such as peer-reviewed grants and prizes.
Bibliographical references :
Suzanne Scotchmer, Chapter 2, Innovation and Incentives (MIT Press 2004)