Public Gains from Entrepreneurial Research: Inferences about the Economic Value of Public Support of the Small Business Innovation Research Program
Stephen Layson and
Albert N. L ()
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Albert N. L: University of North Carolina at Greensboro, Department of Economics
Authors registered in the RePEc Author Service: Albert N. Link
No 12-4, UNCG Economics Working Papers from University of North Carolina at Greensboro, Department of Economics
This paper 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.
Keywords: Entrepreneurship; Innovation; Technology; SBIR Program; Benefit-to-cost Ratio; Program Evaluation; Producer Surplus; Consumer Surplus (search for similar items in EconPapers)
JEL-codes: H43 O22 O31 O38 (search for similar items in EconPapers)
Pages: 24 pages
New Economics Papers: this item is included in nep-cse, nep-ent, nep-ino, nep-ppm and nep-sbm
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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)
Journal Article: 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:ris:uncgec:2012_004
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