As funding for universities and governmental research units has declined, these institutions have turned to the private sector to augment their research and development budgets. This book presents a framework for structuring public-private research partnerships that protect both these institutions’ academic freedom and the private firm’s corporate interests. This formulation is developed using insights originating from the incomplete contracting and collective decision making literatures. The book presents a number of template designs for a variety of research partnerships.
Empowering University Partners
Chapter 4: Crowding-in versus crowding-out of public good research
Subjects: economics and finance, financial economics and regulation, public finance, public sector economics, politics and public policy, public policy
We explore whether private funding crowds-in or crowds-out public good research for each of two major paradigms. We emphasize the critical roles of bargaining that must necessarily take place in establishing public–private joint ventures as well as the incentives among the two agents: research administrators and private industry representatives. In addition to private sector incentives, a governance structure is specified for university research administrators. Both static and dynamic representations are developed. Crowding-in and/or crowding-out is shown to depend critically on the bargaining structure between these two parties.
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