Google Scholar: citations
Commercial incentives in R&D : research versus development
Banal Estañol, Albert (University of London)
Macho Stadler, Inés (Universitat Autònoma de Barcelona. Departament d'Economia i d'Història Econòmica)

Date: 2010
Abstract: This paper proposes a framework to analyze the effects of scientific and commercial incentives in R&D organizations. We build a simple repeated model of a researcher capable of obtaining innovative ideas. Although they reduce the time spent on research, we show that commercialization incentives also affect the choice of research projects. Commercial rewards induce a more intensive search for (ex post) path-breaking innovations, which are more likely to be generated through (ex ante) riskier research programs. We derive the organization's optimal incentive scheme in terms of the researcher's characteristics. We show that organizations should use a high level of commercial incentives for scientists who have strong or weak intrinsic preferences for research. For those with strong preferences, the organization needs to induce development, whereas for those with weak ones, it needs to induce effort.
Grants: Ministerio de Ciencia y Tecnología SEJ2006-00538
Ministerio de Educación y Ciencia CSD 2006-00016
Agència de Gestió d'Ajuts Universitaris i de Recerca 2005/SGR-00836
Note: An earlier version of this paper was circulated under the title "Commercial Incentives in Academia." We are grateful to David Pérez-Castrillo, Reinhilde Veugelers, the coeditor and two referees for valuable discussions and helpful comments. We have also benefited from the comments of seminar participants at the Universities Autonoma de Barcelona, Padova and Porto and at the JEI (Barcelona, 2006) EEA (Budapest, 2007), and ASSET (Florencia, 2008). Financial support from Ministerio de Ciencia y Tecnología (SEJ2006-00538), Consolider-Ingenio 2010 (CSD 2006-00016), Barcelona GSE Research Network and from the Government of Catalonia (2005SGR00836) is gratefully acknowledged.
Rights: Tots els drets reservats.
Language: Anglès
Document: Article ; recerca ; Versió acceptada per publicar
Subject: Scientific and commercial incentives ; R&D organizations
Published in: Journal of economics & management strategy, Vol. 19, Num. 1 (2010) , p. 185-221, ISSN 1530-9134

DOI: 10.1111/j.1530-9134.2009.00250.x


Postprint
35 p, 392.4 KB

The record appears in these collections:
Articles > Research articles
Articles > Published articles

 Record created 2017-03-27, last modified 2022-12-05



   Favorit i Compartir