Science versus Profit in Research: Lessons from the Human Genome Project

Carlo Carraro (), Domenico Siniscalco and Pomè, Alessandra

No 2890, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: This Paper elaborates on the recent race to sequence the human genome. Starting from the debate arising from the genome case on public versus private research, the Paper shows that in some fundamental research areas, where knowledge externalities play an important role, market and non-market allocation mechanisms do coexist and should coexist in order to ensure socially desirable achievements. A game-theoretic model makes it possible to demonstrate the above results and to characterize some features of an optimal research policy.

Keywords: Science; Technology; Allocation mechanisms; Intellectual property rights; Welfare (search for similar items in EconPapers)
JEL-codes: D78 H23 H40 O32 O38 (search for similar items in EconPapers)
Date: 2001-07
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Citations: View citations in EconPapers (2)

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