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How to allocate R&D (and other) subsidies: an experimentally tested policy recommendation
Humboldt-Universität zu Berlin, Germany.ORCID iD: 0000-0002-8973-1410
Humboldt-Universität zu Berlin, Germany.
Humboldt-Universität zu Berlin, Germany.
2006 (English)In: Research Policy, ISSN 0048-7333, E-ISSN 1873-7625, Vol. 35, no 9, p. 1261-1272Article in journal (Refereed) Published
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Abstract [en]

This paper evaluates the typically applied rules for awarding R&D subsidies. We identify two sources of inefficiency: the selection based on a ranking of individual projects, rather than complete allocations, and the failure to induce competition among applicants in order to extract and use information about the necessary funding. In order to correct these inefficiencies we propose mechanisms that include some form of an auction in which applicants bid for subsidies. Our proposals are tested in a simulation and in controlled lab experiments. The results suggest that adopting our proposals may considerably improve the allocation.

Place, publisher, year, edition, pages
Elsevier, 2006. Vol. 35, no 9, p. 1261-1272
Keywords [en]
Research, Subsidies, Experimental economics
National Category
Economics
Identifiers
URN: urn:nbn:se:lnu:diva-49430DOI: 10.1016/j.respol.2006.01.008OAI: oai:DiVA.org:lnu-49430DiVA, id: diva2:898847
Available from: 2016-01-29 Created: 2016-01-29 Last updated: 2017-11-30Bibliographically approved

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Giebe, Thomas

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