The Social Value of New Technology
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The Social Value of New Technology

Edited by Albert N. Link and John T. Scott

New technologies, with their practical contributions, provide social value. The chapters in this volume view this social value from a program evaluation perspective, and the focus of the evaluations is the generation of new technology funded by public sector agencies. The authors provide important background on methodology and application and show that it is relevant not only to the established scholars and practitioners, but also to students.
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Chapter 5: Public / private partnerships: stimulating competition in a dynamic market

Albert N. Link and John T. Scott

Abstract

This paper sets forth a public / private partnership competition policy that mitigates the appropriability problems associated with innovation that occur in a dynamic market when competitive pressures are present. We illustrate the applicability of our policy proposal using the results from an analysis of research projects jointly funded by the Advanced Technology Program (ATP) and the private partners. Our analysis illustrates that in the absence of ATP funding these projects would not have been undertaken by private-sector firms, and that the social rate of return from the projects is substantial. We also posit a mechanism whereby ATP, or any public agency, can partner with industry to ensure that its public funds are being efficiently allocated.

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