Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program

Stuart Allen, Stephen K. Layson and Albert Link

Research Evaluation, 2012, vol. 21, issue 2, 105-112

Abstract: This article presents a systematic analysis of the net economic benefits associated with the Small Business Innovation Research (SBIR) program. We offer a derivation of producer and consumer surplus to estimate economic benefits. Fundamental to the implementation of these models is a specific value of the elasticity of demand, but in its absence we estimate what its value would be when the benefit-to-cost ratio associated with public support of the SBIR program equals unity. We infer from these calculations, and from general knowledge about the ability of SBIR-funded firms to exploit their monopoly position, that the SBIR program likely generates positive net economic benefits to society. Copyright The Author 2012. Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oup.com, Oxford University Press.

Date: 2012
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Chapter: Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program (2013)
Working Paper: Public Gains from Entrepreneurial Research: Inferences about the Economic Value of Public Support of the Small Business Innovation Research Program (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:oup:rseval:v:21:y:2012:i:2:p:105-112

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