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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)

Fecha: 2010
Resumen: 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.
Nota: 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.
Nota: Número d'acord de subvenció MCYT/SEJ2006-00538
Nota: Número d'acord de subvenció MEC/CSD 2006-00016
Nota: Número d'acord de subvenció AGAUR/2005SGR00836
Derechos: Tots els drets reservats.
Lengua: Anglès.
Documento: article ; recerca ; acceptedVersion
Materia: Scientific and commercial incentives ; R&D organizations
Publicado en: Journal of economics & management strategy, Vol. 19, Num. 1 (2010) , p. 185-221, ISSN 1058-6407

DOI: 10.1111/j.1530-9134.2009.00250.x


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