Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program.
- UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
- Stuart D. Allen, Professor (Creator)
- Stephen K. Layson, Associate Professor (Creator)
- Albert N. Link, Professor (Creator)
- Institution
- The University of North Carolina at Greensboro (UNCG )
- Web Site: http://library.uncg.edu/
Abstract: This article presents a systematic analysis of the net economic benefits associated with the Small Business Innovation Research (SBIR) program. We offer a derivation of producer and consumer surplus to estimate economic benefits. Fundamental to the implementation of these models is a specific value of the elasticity of demand, but in its absence we estimate what its value would be when the benefit-to-cost ratio associated with public support of the SBIR program equals unity. We infer from these calculations, and from general knowledge about the ability of SBIR-funded firms to exploit their monopoly position, that the SBIR program likely generates positive net economic benefits to society.
Public gains from entrepreneurial research: Inferences about the economic value of public support of the Small Business Innovation Research program.
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Created on 7/16/2013
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Additional Information
- Publication
- Language: English
- Date: 2012
- Keywords
- entrepreneurship, innovation, technology, SBIR program, benefit to cost ratio, program evaluation, producer surplus, consumer surplus