| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6882 |
| 来源ID | Working Paper 6882 |
| Balancing Incentives: The Tension Between Basic and Applied Research | |
| Iain Cockburn; Rebecca Henderson; Scott Stern | |
| 发表日期 | 1999 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper presents empirical evidence that the intensity of research workers' incentives for the distinct tasks of basic and applied research are positively associated with each other. We relate this finding to the prediction of the theoretical literature that when effort is multi-dimensional, firms will balance' the provision of incentives; when incentives are strong along one dimension, firms will set high-powered incentives for effort along other dimensions which compete for the worker's effort and attention (Holmstrom and Milgrom, 1991). We test for this effect in the context of pharmaceutical research using detailed data on individual research programs financed by private firms. Consistent with the complementarity hypothesis, we find strong evidence that firms who provide strong promotion-based incentives for individuals to invest in fundamental or basic' research also provide more intense incentives for success in applied research through the capital budgeting process. The intensity of these bonus' incentives is weaker in firms who use a more centralized research budgeting process. We interpret this latter finding as providing support for theories which emphasize substitutability between contractible and non-contractible signals of effort (Baker, Gibbons, and Murphy, 1994). |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w6882 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/564393 |
| 推荐引用方式 GB/T 7714 | Iain Cockburn,Rebecca Henderson,Scott Stern. Balancing Incentives: The Tension Between Basic and Applied Research. 1999. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6882.pdf（254KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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