Working Paper Series, Department of Economics, Copenhagen Business School
Mixed R&D incentives: the effect of R&D subsidies on patented inventions
Abstract: This paper analyzes the effects of mixed public-private
R&D incentives and empirically tests whether patents that were publicly
sponsored are more important than non-subsidized ones. Blending patents and
public subsidies will allow the funding agency to subsidize inventions that
would otherwise not elicit investment because the private incentive will
not fully cover the cost of the invention. Thus, the policy maker will only
subsidize inventions that have a high social value. The empirical analysis
shows that subsidized inventions result in more important patents, as
measured by the number of forward citations.
Keywords: na; (follow links to similar papers)
JEL-Codes: G10; (follow links to similar papers)
21 pages, January 1, 2008
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