Astract

The Economic Assessment Office of the Advanced Technology Program (ATP) seeks to develop a standard methodology for undertaking benefit-cost studies of science and technology projects for purposes of quantifying federal program impacts. A key objective is to facilitate comparability and aggregation among benefit-cost studies of individual projects. This report discusses similarities and differences among the ATP's benefit-cost studies performed to date. The emphasis is on identifying methodological steps that can be taken to facilitate consistency and comparability across studies and aggregation of results of studies performed at different times. Such aggregation is needed to enable analysis across a portfolio of projects funded by a given program over time. This report draws on ATP's experience in funding risky, industry-led advanced technology projects and in conducting and publishing benefit-cost studies of nearly 30 projects. It helps extend the role of the National Institute of Standards and Technology in international, economics-based standards development by helping create a comprehensive standard benefit-cost methodology for the science and technology community.

Keywords: Advanced Technology Program; benefit-cost analysis; discounted cash flows; program evaluation; science & technology programs; research & development; research impacts; prospective analysis; retrospective analysis; social return on investment; public return on investment.

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Date created: July 11, 2006
Last updated: July 12, 2006

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