Affiliation:
1. National Research University Higher School of Economics (Moscow)
Abstract
The paper considers the relationship between the format of R&D activity (public or private) and the choice of strategy for innovative development in technology-intensive industries. The analysis is exemplified with the case of research on controlled nuclear fusion. Public and private strategies are shown to face different kinds of risks: public R&D suffers from low managerial efficiency and poor commercialization; private R&D focuses on research projects facing greater uncertainties and therefore larger risks, but in the event of success they lead to more cost-efficient technologies which are easier to commercialize.
Subject
Economics and Econometrics,Finance
Reference25 articles.
1. Aharonson B. S., Schilling M. A. (2016). Mapping the technological landscape: Measuring technology distance, technological footprints, and technology evolution. Research Policy, Vol. 45, pp. 81—96.
2. Ariola M., Pironti A. (2008). Magnetic control of tokamak plasmas. Heidelberg etc.: Springer.
3. Baumol W. J. (2014). The free-market innovation machine. Princeton: Princeton University Press.
4. Bucalossi J. et al. (2014). The WEST project: Testing ITER divertor high heat flux component technology in a steady state tokamak environment. Fusion Engineering and Design, Vol. 89, pp. 907—912.
5. Bustreo S. (2013). Fusion energy economics.Paper presented at the 64th Semi-annual ETSAP meeting, Seoul, Republic of Korea, 4—5 November.