Economics of Science and Innovation

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Editorial Reviews

This two-volume set collects 24 articles previously published between 1926 and 1998 which provide a scholarly foundation for the economics of science. Following an overview, topics in Volume I include the public nature of scientific knowledge, the production of scientific knowledge, the reward structure of science, characteristics of discovery, priority rights and property rights, and careers in science. Volume II covers labor markets for scientists, scientists in industry, the commercialization of science, the relationship between science and technology, science and growth, knowledge spillovers, and public policy. Lacks a subject index. Edited by Stephan (School of Policy Studies, George State U.) and Audretsch (Institute for Development Strategies, Indiana U.) Annotation c. Book News, Inc., Portland, OR (
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Table of Contents

Volume 1
Acknowledgements ix
Introduction xi
Part I An Overview
1. 'The Economics of Science', Journal of Economic Literature, XXXIV (3), September, 1199-1235 (1996) 3
2. 'The Simple Economics of Basic Scientific Research', Journal of Political Economy, LXVII (3), 297-306 (1959) 40
3. 'Science, Technology and the Western Miracle', Scientific American, 263 (5), November, 42-54 (reset) (1990) 50
Part II The Public Nature of Scientific Knowledge
4. 'Economic Welfare and the Allocation of Resources for Invention', in The Rate and Direction of Inventive Activity: Economic and Social Factors, Princeton: Princeton University Press, 609-25 (1962) 61
5. 'Is Science a Public Good? Fifth Mullins Lecture', Science, Technology, and Human Values, 19 (4), Autumn, 395-424 (1994) 78
6. 'Toward a New Economics of Science', Research Policy, 23 (5), September, 487-521 (1994) 108
7. 'Some Economic Aspects of Science', Minerva, X (1), January, 10-18 (1972) 143
Part III The Production of Scientific Knowledge
8. 'Publication Productivity Among Scientists: A Critical Review', Social Studies of Science, 13 (2), May, 285-305 (1983) 155
9. 'Published Papers, Tacit Competencies and Corporate Management of the Public/Private Character of Knowledge', Industrial and Corporate Change, 4 (2), 401-24 (1995) 176
10. 'The Case of the Floppy-Eared Rabbits: An Instance of Serendipity Gained and Serendipity Lost', in Bernard Barber and Walter Hirsch (eds), The Sociology of Science, New York: Free Press of Glencoe, 525-38 (1962) 200
Part IV The Reward Structure of Science
11. 'Priorities in Scientific Discovery: A Chapter in the Sociology of Science', American Sociological Review, 22 (6), December, 635-59 (1957) 217
12. 'The Proliferation of Prizes: Nobel Complements and Nobel Surrogates in the Reward System of Science', Theoretical Medicine, 13, 217-31 (reset) (1992) 242
13. 'What is a Citation Worth?', Journal of Human Resources, XXI (1), Winter, 200-215 (1986) 255
14. 'How Science is Done; Why Science is Done', in Striking the Mother Lode in Science: The Importance of Age, Place and Time, Chapter 2, New York: Oxford University Press, 11-24 and references (1992) 271
15. 'The Changing Rewards to Science: The Case of Biotechnology', Small Business Economics, 10, 141-51 (1998) 287
Part V Chara Cteristics of Discovery
16. 'The Simple Economics of Research Portfolios', Economic Journal, 97 (387), September, 581-95 (1987) 301
17. 'Statistics: The Frequency Distribution of Scientific Productivity', Journal of the Washington Academy of Sciences, 16 (12), June, 317-23 (reset) (1926) 316
18. 'The Matthew Effect in Science', Science, 159, January-March, 56-63 (1968) 323
Part VI Priority Richts and Property Rights
19. 'Information Disclosure and the Economics of Science and Technology', in George R. Feiwel (ed.), Arrow and the Ascent of Modern Economic Theory, Chapter 16, London: Macmillan Press, 519-42 (1987) 333
20. 'Proprietary Rights and the Norms of Science in Biotechnology Research', Yale Law Journal, 97 (2), December, 177-231 (1987) 357
Part VII Careers in Science
21. 'Productivity Differences Among Scientists: Evidence for Accumulative Advantage', American Sociological Review, 39 (4), August, 596-606 (1974) 415
22. 'Research Productivity Over the Life Cycle: Evidence for Academic Scientists', American Economic Review, 81 (1), March, 114-32 (1991) 426
23. 'The Life-Cycle Research Productivity of Mathematicians and Scientists', Journal of Gerontology, 41 (4), 520-25 (1986) 445
24. 'Planck's Principle: Do Younger Scientists Accept New Scientific Ideas With Greater Alacrity Than Older Scientists?', Science, 202 (4369), 717-23 (reset) (1978) 451
Name Index 467
Volume 2
Acknowledgements vii
Introduction ix
Part I Labor Markets for Scientists
1. 'Scientist and Engineer Supply and Demand', in John C. Smart (ed.), Higher Education: Handbook of Theory and Research, IX, New York: Agathon Press, 154-211 (1993) 3
2. 'The Flow of New Doctorates', Journal of Economic Literature, XXX (2), June, 830-75 (1992) 61
3. 'Supply and Salary Adjustments to the Changing Science Manpower Market: Physics, 1948-1973', American Economic Review, 65 (1), March, 27-39 (1975) 107
Part II Scientists in Industry
4. 'Innovation and Learning: The Two Faces of R&D', Economic Journal, 99 (397), September, 569-96 (1989) 123
5. 'Academic Research Underlying Industrial Innovations: Sources, Characteristics, and Financing', Review of Economics and Statistics, LXXVII (1), 55-65 (1995) 151
6. 'The Link Between Science and Invention: The Case of the Transistor', in The Rate and Direction of Inventive Activity: Economic and Social Factors, Princeton: Princeton University Press, 549-83 (1962) 162
7. 'Why Do Firms Do Basic Research (With Their Own Money)?', Research Policy, 19 (2), April, 165-74 (1990) 197
8. 'The Private R&D Investment Response to Federal Design and Technical Competitions', American Economic Review, 78 (3), 550-59 (1988) 207
Part III The Commercialization of Science
9. 'Company-Scientist Locational Links: The Case of Biotechnology', American Economic Review, 86 (3), June, 641-52 (1996) 219
10. 'Intellectual Human Capital and the Birth of U.S. Biotechnology Enterprises', American Economic Review, 88 (1), March, 290-306 (1998) 231
11. 'Academic Research and Industrial Innovation', Research Policy, 20 (1), February, 1-12 (1991) 248
12. 'What Makes Basic Research Economically Useful?', Research Policy, 20 (2), April, 109-19 (1991) 260
Part IV The Relationship Between Science and Technology
13. 'Science, Invention and Economic Growth', Economic Journal, 84 (333), March, 90-108 (1974) 273
14. 'Demand-Pull and Technological Invention: Schmookler Revisited', Journal of Industrial Economics, XXX (3), March, 225-37 (1982) 292
15. 'The Roles of Science in Technological Innovation', Research Policy, 3 (3), November, 221-42 (1974) 305
Part V Science and Growth
16. 'The Origins of Endogenous Growth', Journal of Economic Perspectives, 8 (1), Winter, 3-22 (1994) 329
Part VI Knowledge Spillovers
17. 'The Search for R&D Spillovers', Scandinavian Journal of Economics, 94, Supplement, 29-47 (1992) 351
18. 'Real Effects of Academic Research', American Economic Review, 79 (5), December, 957-70 (1989) 370
19. 'R&D Spillovers and the Geography of Innovation and Production', American Economic Review, 86 (3), June, 630-40 (1996) 384
20. 'R&D Spillovers and Recipient Firm Size', Review of Economics and Statistics, LXXVI (2), 336-40 (1994) 395
21. 'Geographically Localized Knowledge: Spillovers or Markets?', Economic Inquiry, XXXVI, January, 65-86 (1998) 400
Part VII Public Policy
22. 'Science, Economic Growth, and Public Policy', Challenge, March-April, 9-21 (1996) 425
23. 'Does Technology Policy Matter?', in Bruce R. Guile and Harvey Brooks (eds), Technology and Global Industry: Companies and Nations in the World Economy, Washington, DC: National Academy Press, 191-245 (1987) 438
24. 'Critical Issues in Science Policy Research', in Exploring the Black Box: Technology, Economics, and History, Chapter 8, Cambridge: Cambridge University Press, 139-58 (1994) 493
Name Index 513
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