Academic freedom, private-sector focus, and the process of innovation

• 成果类型: Article
• 署名作者: Aghion, Philippe; Dewatripont, Mathias; Stein, Jeremy C.
• 署名单位: National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Harvard University; Universite Libre de Bruxelles; National Bureau of Economic Research
• 刊物名称: RAND JOURNAL OF ECONOMICS
• ISSN/ISSBN: 0741-6261
• DOI: 10.1111/j.1756-2171.2008.00031.x
• 发表日期: 2008
• 页码: 617-635
• 关键词: economics; TENURE

摘要

We develop a model that clarifies the respective advantages and disadvantages of academic and private-sector research. Rather than relying on lack of appropriability or spillovers to generate a rationale for academic research, we emphasize control-rights considerations, and argue that the fundamental tradeoff between academia and the private sector is one of creative control versus focus. By serving as a precommitment mechanism that allows scientists to freely pursue their own interests, academia can be indispensable for early-stage research. At the same time, the private sector's ability to direct scientists toward higher-payoff activities makes it more attractive for later-stage research.