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Economic Analysis of Research Spillovers Implications for the Advanced Technology Program.

PB2007105379

Publication Date	1996
Personal Author	Jaffe, A. B.
Page Count	30
Abstract	Economists use the term 'spillover' to capture the idea that some of the economic benefits of Research and Development (R&D) activities accrue to economic agents other than the party that undertakes the research. Purchasers of better or cheaper products, competing firms that imitate a successful innovation, and firms whose own research benefits from observation of the successes and failures of others' research efforts all garner such spillover benefits. As these examples suggest, these spillovers are created by a combination of the new knowledge resulting from an R&D effort, and the commercialization of the new technology in terms of a product or process that is successfully implemented in the marketplace. Thus a complete understanding of the R&D spillover phenomena requires an unusual combination of scientific/technical and business/economic analysis.
Keywords	Economic analysis Research and development Literature review Economic benefits Technology Advanced Technology Program Research spillovers
Source Agency	National Institute of Standards and Technology
Corporate Authors	Brandeis Univ., Waltham, MA.; National Bureau of Economic Research, Inc., Cambridge, MA.; National Inst. of Standards and Technology (ATP), Gaithersburg, MD.
Supplemental Notes	See also PB2007-103583. Sponsored by the National Institute of Standards and Technology Advanced Technology Program.
Document Type	Technical Report
NTIS Issue Number	200709

Economic Analysis of Research Spillovers Implications for the Advanced Technology Program.

Economic Analysis of Research Spillovers Implications for the Advanced Technology Program.
PB2007105379

Publication Date	1996
Personal Author	Jaffe, A. B.
Page Count	30
Abstract	Economists use the term 'spillover' to capture the idea that some of the economic benefits of Research and Development (R&D) activities accrue to economic agents other than the party that undertakes the research. Purchasers of better or cheaper products, competing firms that imitate a successful innovation, and firms whose own research benefits from observation of the successes and failures of others' research efforts all garner such spillover benefits. As these examples suggest, these spillovers are created by a combination of the new knowledge resulting from an R&D effort, and the commercialization of the new technology in terms of a product or process that is successfully implemented in the marketplace. Thus a complete understanding of the R&D spillover phenomena requires an unusual combination of scientific/technical and business/economic analysis.
Keywords	Economic analysis Research and development Literature review Economic benefits Technology Advanced Technology Program Research spillovers
Source Agency	National Institute of Standards and Technology
Corporate Authors	Brandeis Univ., Waltham, MA.; National Bureau of Economic Research, Inc., Cambridge, MA.; National Inst. of Standards and Technology (ATP), Gaithersburg, MD.
Supplemental Notes	See also PB2007-103583. Sponsored by the National Institute of Standards and Technology Advanced Technology Program.
Document Type	Technical Report
NTIS Issue Number	200709