Procuring Knowledge

Stephen M. Maurer and Suzanne Scotchmer

No 9903, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: There is growing public interest in alternatives to intellectual property including, but not limited to, prizes and government grants. We argue that there is no single best mechanism for supporting research. Rather, mechanisms can only be compared within specific creative environments. We collect various historical and contemporary examples of alternative incentives, and relate them to models of the creative process. We give an explanation for why federally funded R&D has moved from an intramural activity to largely a grant process. Finally, we observe that much research is supported by a hybrid system of public and private sponsorship, and explain why this makes sense in some circumstances.

JEL-codes: O31 O38 (search for similar items in EconPapers)
Date: 2003-08
New Economics Papers: this item is included in nep-dev
Note: PR
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Citations: View citations in EconPapers (4)

Published as Libecap, Gary (ed.) Intellectual Property and Entrepreneurship, Volume 15. JAI Press, 2004.

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