Back to Search
Start Over
Economic Approaches To the Evaluation of Research
- Source :
- Evaluation Review. 18:77-88
- Publication Year :
- 1994
- Publisher :
- SAGE Publications, 1994.
-
Abstract
- This article reviews the principal methods economists and benefitlcost analysts use in evaluating research. These methods usually involve computing impacts using market information, mone tizing the impacts, and then comparing the value of the impacts with the cost of research. Two principal measures are common in the literature: surplus measures (consumers' surplus, producers'surplus, and combinations thereof) and productivity measures (average or marginal contributions of research and development [R&D] at firm, industry, national, or international levels). Given known time streams of benefits and costs, internal rates of return to R&D investments are then computed The article notes both the standard technical difficulties with these approaches and the political and organizational difficulties in using them.
- Subjects :
- Rate of return
Program evaluation
Public economics
Cost effectiveness
05 social sciences
Principal (computer security)
050401 social sciences methods
050301 education
General Social Sciences
0504 sociology
Arts and Humanities (miscellaneous)
Value (economics)
Economics
Consumer economics
Economic impact analysis
0503 education
Productivity
Subjects
Details
- ISSN :
- 15523926 and 0193841X
- Volume :
- 18
- Database :
- OpenAIRE
- Journal :
- Evaluation Review
- Accession number :
- edsair.doi...........38ffe82276b0dd99177f72ba9b5ec363