In several strategy documents, the Department of Defense has suggested that it may experiment with public-private partnerships (P3s) as catalysts for innovation. This policy is misguided. P3s may prove especially disappointing if they are merely a neologism for a continuation of the same old...

Innovation is a primary source of economic growth, and is accordingly the target of substantial academic and government attention. Grants are a key tool in the government’s arsenal of tools to promote innovation, but legal academic studies of that arsenal have given them short shrift. While...

This Article is based on the 2021 Shidler Lecture, which was delivered at the University of Washington School of Law on November 4, 2021. Through enormous public support and private initiative, biopharmaceutical firms have developed safe and effective COVID-19 vaccines in record time. These...

This paper introduces the Portfolio Project Matrix Model P2M2™ for managing capability acquisition and innovation in military applications. We present an overview of related theories and models and provide references. An annex is included, featuring a visualization tool used to analyse...

Economics and innovation scholars have long recognized the potential of public procurement to trigger innovation. To what extent has this potential been realized so far? What can be done to improve the performance of PPI in this regard? This paper addresses these issues by providing a literature...

To stay on top of global competition, firms and governments often need to acquire innovative goods and services, including ideas and research, from their strategic suppliers. A careful design of procurement policy is crucial to make potential suppliers generate and sell the most suitable...

This paper investigates the impact of Public Procurement of Innovation (PPI) and Research and Development (R&D) grants on firms' R&D investment using data from Belgian R&D-active firms over the past decade. Our empirical analysis robustly reveals a non-negligible crowding-out effect between the...

Policy-makers in the EU have recently increasingly emphasised public procurement as a policy instrument to stimulate innovation. Public procurement is seen as an instrument able to fill in the gaps in the existing innovation policy-mix, thus helping to maintain competitive advantage of EU Member...

As the 20th Century ends, technologies originally developed for defense purposes such as computers and satellite communications appear to have become a driving force behind economic growth. Paradoxically, almost all econometric models suggest that the largely defense-oriented federal industrial...

Prizes are often awarded to encourage research on products deemed of vital importance. We present a mechanism which can, in situations where the innovators are better informed about the difficulty of the research, tailor perfectly the expected reward to the expected research costs. The idea is...