Lecture 22 07 Final - EEP 143 Lecture 22 Institutions and...

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Unformatted text preview: EEP 143 Lecture 22 Institutions and Innovations Outline: First: a note on quiz Q4 Linear model of innovation Federal R&D University R&D EBI Initiative Benefits of the Industry-University Complex Quiz Q4: Drastic process Innovation What are increases profits due to process innovation? 1. If inventor monopolized the production process? 2. If the pre-invention process is available at marginal cost c? D P Q MR c c' p' m ' p m Quiz Q4: Drastic process Innovation D P Q MR c c' p' m ' p m What are increases profits due to process innovation? If inventor monopolized the production process? ' If the pre-invention process is available at marginal cost c? ' Innovation: The traditional Linear Model Simple Version 1. Basic research 2. Applied research 3. Invention 4. Development 5. Commercialization Innovation: The traditional Linear Model: More detail 1. Science and technology base 2. Basic research 3. Applied research 4. Invention 5. Prototype 6. Development 7. Commercialization 8. Diffusion Example of traditional Linear Model: New Drug 1. Science base: state of the art in chemistry, biology, etc. 2. Basic research: chemistry, microbiology, genetics 3. Applied research: synthesize and screen compounds 4. Invention Identify compound with desired effect in lab 5. Prototype Compound formulated for lab testing 6. Development Phase I clinical trials Phase II clinical trials Phase III clinical trials 7. Commercialization Formulation, dosage choices, packaging, marketing 8. Diffusion Sponsor trials, conferences, detailing MDs, consumer advertising Example of traditional Linear Model: New Drug 1. Science base: state of the art in chemistry, biology, etc. 2. Basic research: chemistry, microbiology, genetics 3. Applied research: synthesize and screen compounds 4. Invention Identify compound with desired effect in lab 5. Prototype Compound formulated for lab testing Example of traditional Linear Model: New Drug 6. Development Phase I clinical trials Phase II clinical trials Phase III clinical trials 7. Commercialization Formulation, dosage choices, packaging, marketing 8. Diffusion Sponsor trials, conferences, detailing MDs, consumer advertising Where are the largest expenses? Example of traditional Linear Model: new software...
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This note was uploaded on 08/01/2008 for the course ECON 143 taught by Professor Wright during the Fall '07 term at University of California, Berkeley.

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Lecture 22 07 Final - EEP 143 Lecture 22 Institutions and...

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