Research and Development: Characteristics, Organization, and Outcome
As pointed out in the previous chapter, recent years have witnessed a very great interest among economists in industrial research and development, a considerable number of studies of this facet of business activity having been carried out.1 Although these studies have promoted a much clearer understanding of this area, we still have very little information concerning many important aspects of industrial research and development, one of the most obvious gaps being the lack of studies indicating the characteristics of research and development in various industries, the effect of various characteristics of a firm on the nature of the R and D it undertakes, and the effects of various characteristics of a firm on the effectiveness of a firm’s R and D efforts.
KeywordsLarge Firm Technical Success Technical Objective Development Expenditure Research Expenditure
Unable to display preview. Download preview PDF.
- 1.For example, see Edwin Mansfield, Industrial Research and Technological Innovation, (New York: W. W. Norton for the Cowles Foundation for Research in Economics at Yale University, 1968);Google Scholar
- Richard Nelson, Merton Peck, and Edward Kalachek, Technology, Economic Growth, and Public Policy (Washington, D.C.: The Brookings Institution, 1967);Google Scholar
- Richard Nelson, and Thomas Marschak, Thomas Glennan, and Robert Summers, Strategy for R and D (New York: Springer-Verlag, 1967).Google Scholar
- For a review of the literature, see Edwin Mansfield, The Economics of Technological Change (New York: W. W. Norton, 1968), Chap. 3.Google Scholar
- 2.See Allan Cartter, “Economics of the University” (American Economic Review, May 1965);Google Scholar
- Allan Cartter, An Assessment of Quality in Graduate Education (American Council on Education, 1966).Google Scholar
- 26.Robert Seiler, Improving the Effectiveness of Research and Development (New York: McGraw-Hill, 1965), p. 133.Google Scholar
- 27.For some discussions of the reasons for, and the advantages of, separating research from development, see William Kornhauser, Scientists in Industry: Conflict and Accommodation (Berkeley: University of California Press, 1962);Google Scholar
- A. Stanley and K. White, Organizing the R and D Function (American Management Association, 1965).Google Scholar
- 30.A statistical discriminant function is optimal in the sense that under specified conditions, it minimizes the proportion of incorrect predictions. See T. Anderson, An Introduction to Multivariate Statistical Analysis (New York: Wiley, 1958).Google Scholar