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GCR 99-780 - Estimating Social and Private Returns from Innovations Based on the Advanced Technology Program: Problems and Opportunities

8. FOLLOW-ON STUDIES BY FOSTER AND NATHAN

During the late 1970s, the National Science Foundation, which financed our work described in previous sections, commissioned two studies, one by Foster Associates and one by Robert Nathan Associates. The purpose was to replicate our study and to enlarge our sample. The findings of these two follow-on studies, based on about 40 innovations in all, were very similar to our own, and the model described above was judged to be serviceable in a wide variety of circumstances (see Foster Associates, 1978, and Nathan Associates, 1978). These studies by Foster and Nathan, together with our own, remain the only investigations of the social rates of return of innovations in industry (other than isolated case studies). Clearly, the need for updated analysis is substantial.

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Date created: June 15, 2006
Last updated: June 16, 2006

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