Abstract
This chapter summarizes the economic arguments for public support of private-sector R&D activity. The economic concept of market failure is discussed.
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© 2013 Albert N. Link and John T. Scott
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Link, A.N., Scott, J.T. (2013). Market Failure and Public Support of R&D. In: Bending the Arc of Innovation: Public Support of R&D in Small, Entrepreneurial Firms. Science, Technology, and Innovation Policy. Palgrave Pivot, New York. https://doi.org/10.1057/9781137370884_2
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DOI: https://doi.org/10.1057/9781137370884_2
Publisher Name: Palgrave Pivot, New York
Print ISBN: 978-1-349-47566-7
Online ISBN: 978-1-137-37088-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)