IR&D Project Data and Theories of R&D Investment
|
NBER Working Paper No. 2720 (Also Reprint No. r1217)
Issued in July 1989
NBER Program(s): PR
This paper analyzes data on a large sample of research and development (R&D) projects documented in the Defense Department's Independent R&O Data Bank, both to provide some stylized facts about R&O investment at the project level and to test the implications of a control-theoretical model developed by Grossman and Shapiro. We calculate moments of the marginal distributions and elasticities of cost with respect to time, by type of project (e.g. basic research, development), and discriminate between alternative hypothesis concerning the shape of the hazard function of R&D investment. Consistent with the major implication of the Grossman-Shapiro model, the rate of investment in a project tends to increase as the project approaches completion.
Published: "IR&D Projected Data and Theories of R&D Investment." From Journal of Economic Dynamics and Control, Vol. 13, pp. 271-282, (1989).
This paper is available as PDF (213 K) or DjVu (107 K) (Download viewer) or via email.
Machine-readable bibliographic record -
MARC,
RIS,
BibTeX
|
|
|
About
Support
The research activities of the NBER are funded by grants from federal research agencies, by private foundations, and by generous donations from our corporate associates and from private individuals. The NBER is a non-profit, 501(c)(3) organization. For information on supporting the NBER, please contact:
Mr. Denis Healy, Director of Development
NBER
1050 Massachusetts Avenue
Cambridge, MA 02138-5398
ph: 617-868-3900
email: dhealy@nber.org
Close
