Sammanfattning
We characterize equilibrium investments in basic research by the commercial and university sectors contingent on public funding of the university. We find that firms invest in basic research despite the opportunities for free riding and we present conditions under which firms even have incentives to augment the public funding to the university. We characterize the socially optimal volume of public funding for the university sector. Finally, we compare total investments in a mixed duopoly with those of duopolies composed of two universities as well as two profit‐maximizing firms.
Originalspråk | Engelska |
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Referentgranskad vetenskaplig tidskrift | Journal of Public Economic Theory |
Volym | 22 |
Utgåva | 4 |
Sidor (från-till) | 1017-1040 |
Antal sidor | 24 |
ISSN | 1097-3923 |
DOI | |
Status | Publicerad - 09.03.2020 |
MoE-publikationstyp | A1 Originalartikel i en vetenskaplig tidskrift |
Nyckelord
- 511 Nationalekonomi