Scientists who make breakthrough discoveries can receive above-normal returns to their intellectual capital, with returns depending on the degree of natural excludability, that is whether necessary techniques can be learned through written repons or instead require hands-on experience with the...

Scientists who make breakthrough discoveries can receive above- normal returns to their intellectual capital, with returns depending on the degree of natural excludability - that is, whether necessary techniques can be learned through written reports or instead require hands-on experience with...

We examine the relationship between the intellectual capital of scientists making frontier discoveries, the presence of great university bioscience programs, the presence of venture capital firms, other economic variables, and the founding of U.S. biotechnology enterprises during 1976-1989....