Abstract
Scientific research car for scientific purposes. As such, scientific research will necessarily be evaluate scientific terms. However, scientific research can also be supported for such nonscientific purposes as economic development, industrialization, education, etc. In that case, evaluation of scientific research will be based on economic, educational, etc., yardsticks.
This paper attempts to seek evaluation criteria for the public support of science for the purposes of technological promotion. Such a public investment is shown to be a risky process. The “riskiness” of the process is discussed within the framework of a model of science-based technology and expressed in stochastic terms. A decision-making framework is then developed on the basis of expected utility hypotheses.
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I would like to thank S. N. H. Naqvi and Sübidey Togan for their helpful comments.
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Tuncer, Y. Some aspects of science-based technological promotion. Policy Sci 6, 267–280 (1975). https://doi.org/10.1007/BF00139970
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DOI: https://doi.org/10.1007/BF00139970