War II. In 1940, a group of top U.S. science administrators organized a major coordinated research effort to support the … Allied war effort, including significant investments in medical research which yielded innovations like mass …-produced penicillin, antimalarials, and a flu vaccine. We draw on this episode to discuss the economics of crisis innovation. Since the …

Innovation policy involves trading off monopoly output and pricing in the short run in exchange for incentives for … firms to develop new products in the future. While existing research demonstrates that expected profits fuel R&D investments …

Innovation is important for firm performance and broader economic growth. But breakthrough innovations necessarily … research and development decisions, we conducted three experiments with master’s degree students in a program focused on the … intersection of business and technology. Study participants were asked to choose whether to fund hypothetical research projects …

Business Innovation Research (SBIR) program research awards. We find that SBIR firms attracting private equity investments are …There is great interest in evaluating the impact of private equity investments on innovation and economic growth …. However, there is no direct empirical evidence on the effects of such transactions on the innovation strategies of …

the allocation and impacts of innovation subsidies, using the data from the China Employer Employee Survey (CEES). We find … that the innovation subsidies are preferentially allocated to state owned firms and politically connected firms. Of these … also find that the firms that receive innovation subsidies file and receive more patents, are more likely to introduce new …

Research which explores unchartered waters has a high potential for major impact but also carries a higher uncertainty … of having impact. Such explorative research is often described as taking a novel approach. This study examines the … complex relationship between pursuing a novel approach and impact. Viewing scientific research as a combinatorial process, we …

government grants. We argue that there is no single best mechanism for supporting research. Rather, mechanisms can only be … an intramural activity to largely a grant process. Finally, we observe that much research is supported by a hybrid system …

-established Office of Scientific Research and Development (OSRD) entered thousands of R&D contracts with industrial and academic … paper, we study the long-run effects of the OSRD-supported research effort on U.S. invention. Using data on all OSRD …

European countries do less research than Japan and the United States. We use a quantitative multi-country growth model … to ask: (i) Why is this so? (ii) Would there be any benefit to expanding research in Europe? (iii) What would various … European research promotion policies do? We find that (i) Europe's lower research effort has more to do with the smaller …