Social benefits and costs of large scale research infrastructures

Massimo Florio and Emanuela Sirtori

Technological Forecasting and Social Change, 2016, vol. 112, issue C, 65-78

Abstract: This paper explores some of the methodological issues involved in a cost–benefit analysis framework for large scale capital-intensive research infrastructures. We propose a conceptual model based on the estimation of quantities and shadow prices of cost aggregates, and of six main categories of economic benefits: technological spillovers, human capital formation, knowledge outputs, cultural effects, services to third parties including consumers, and a public good, the pure value of discovery. We justify the reasons why these benefits of research infrastructures should be often expected to be the core ones in ex-ante project evaluation. Other benefits may be considered as well, but often by qualitative methods only. Empirical approaches are suggested for further applied research.

Keywords: Research infrastructures; Cost–benefit analysis; Externalities; Public good; Knowledge (search for similar items in EconPapers)
JEL-codes: D61 D81 I23 O32 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:112:y:2016:i:c:p:65-78

DOI: 10.1016/j.techfore.2015.11.024

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