Immordino, Giovanni; Pagano, Marco; Polo, Michele - In: Journal of Public Economics 95 (2011) 7-8, pp. 864-876
When firms' research can lead to potentially harmful innovations, public intervention may thwart their incentives to undertake research by reducing its expected profitability (average deterrence) and may guide the use of innovation (marginal deterrence). We compare four policy regimes: laissez...
