The decision of how best to appropriate the value of new economic knowledge is reached by individuals within the context of the decision-making process embedded in the principal-agent model and applied to organizations. Because new economic knowledge is not only imperfect but also inherently...

This paper examines the economic determinants and impacts of agricultural research, particularly biotechnology research, with a view to understanding the potential of agricultural biotechnology to address the needs of the poor in developing countries. It surveys public and private agricultural...

The majority of biotech research and almost all of the commercialization of genetically engineered crops has been done by private firms based in industrialized countries. The dominance of the private sector in biotechnology research and product development has raised concern in developing...

This Paper examines the effect of price competition on innovation, market structure and profitability in R&D-intensive industries. The theoretical predictions are tested using UK data on the evolution of competition, concentration, innovation counts and profitability over 1952-77. The...

This paper contains a brief survey of recent empirical work on the performance of large companies. It tries to pull together the literature in the form of six stylized facts, illustrating them with data drawn from a single sample. The paper concludes by highlighting the issues which are thrown...