EEP143 Lecture 3 07

EEP143 Lecture 3 07 - EEP 143 Lecture 3 Outline Review of...

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EEP 143 Lecture 3 Outline Review of Lecture 2: The Institutions of Innovation The Simple Economics of Institutions for Innovation
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Lecture 3 The Simple Economics of Institutions for Innovation Scotchmer, S. Innovation and Incentives , Chapter 2. “Investing in Knowledge.” Nelson, R. 1959. "The Simple Economics of Basic Scientific Journal of Political Economy 67:304
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First, a review of Lecture 2: The Institutions of Innovation Industry Self-funded Government-funded
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Institutions and Innovations Outline: Brief history of innovation from Ancient Egyptians until the 20 th century Examine the role of institutions in the evolution of innovations
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The Institutions of Innovation Government In house Sponsorship: provision versus production National labs (such as Lawrence Berkeley Lab (LBL)) Facilities for Big Science (such as LBL’s contribution to development of atomic weapons)
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The Institutions of Innovation Universities Self-funded Government funded Industry Funded Foundation funded
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The Institutional history of (mostly western) innovation Scotchmer (with Maurer) Chapter 1 See Mokyr The Lever of Riches for a more in-depth coverage See Burke’s Connections for a fun treatment of interesting cases of innovation paths
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End of Review
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Lecture 3: The Simple Economics of Information and Invention Outline: The two attributes of a public Knowledge as a public good Longitude Example Example: Building a bridge
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Public good A public good is a good that is both nonexcludable and nonrival Nonrival: A good that by consuming it, you don’t prevent anyone else from consuming it (TV channel, the technology for making
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EEP143 Lecture 3 07 - EEP 143 Lecture 3 Outline Review of...

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