I build a model of the choice and timing of entry into commercial activities by an academic research team, and analyze the returns and costs of these activities. I compare the behavior and performance of the academic team to an industrial research team. Before moving to commercialization, a team can decide to invest in cost-reducing research activities.  read more »

This paper discusses, first, the properties of scientific and technological knowledge and the institutions supporting its generation and its economic applications. The evidence continues to support the broad interpretation which we call the ”Stanford-Yale-Sussex” synthesis.  read more »