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Febrero 2018

Referencia: 
Instituto de Políticas y Bienes Públicos (IPP) CSIC, Working Paper. 2018-01.
Autores: 

Catalina Martínez & Sarah Parlane

This paper provides a theoretical rationale for private investment in basic research. It explains the decision by some firms to hire scientists who have an intrinsic motivation to pursue academic research and allow them to do so while they also dedicate time to the firm’s applied agenda. We show that this decision maximizes firms’ profits in a context where basic and applied research activities are not strong substitutes and the opportunity cost, associated with deterring scientists from remaining in academia, is sufficiently low. Allowing scientists to pursue an academic agenda...