This paper describes flows of basic research through the U.S. economy and explores their implications for scientific output at the industry and field level. The time period is the late 20th century. This paper differs from others in its use of measures of science rather than technology. Together...

Some scholars view academic and industrial science as qualitatively different knowledge production regimes. Others claim that the two sectors are increasingly similar. Large-scale empirical evidence regarding similarities and differences, however, has been missing. Drawing on prior work on the...

An underlying rationale for public support of science is that private companies underinvest in research of a risky nature. Yet, risk in science is a poorly understood concept. This paper sets out the foundations for understanding, measuring and managing risk in science. We review insights...

Concern that the selection of research projects by peer review disfavors risky science has called attention to ways to incorporate risk into the evaluation of research proposals. This discussion often occurs in the absence of well-defined and developed concepts of what risk and uncertainty mean...