Co-operative Research and Development in the United States

Francis W. Wolek and George Hayward

Chapter 8 in Industrial Innovation, 1979, pp 151-164 from Palgrave Macmillan

Abstract: Abstract There is a classic problem in the economics of research and development—namely, that a free-market economy is prone to under-invest in R & D, particularly in the more long-term and basic kinds of R & D. The generally accepted validity of this problem has prompted the US Government to ask whether or not it should play a role in supplementing industrial R & D. To answer that question one must first explore alternatives to government sponsorship. One of those alternatives is co-operative R & D, that is, R & D efforts jointly supported by several or all firms within an industry.

Keywords: Research Association; Bituminous Coal; Innovative Work; Industrial Innovation; Basic Kind (search for similar items in EconPapers)
Date: 1979
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DOI: 10.1007/978-1-349-03822-0_8

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