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- W2127694029 abstract "The eects of public policy programmes which aim at internalising spill-overs due to successful innovation are analysed in a sequential double-sided moral hazard double-sided adverse selection framework. The central focus lies in analysing their impact on contract design. We show that in our framework only ex post grants are a robust instrument for implementing the rst-b est situation, whereas the success of guarantee programmes, ex ante grants and some public-private partnerships depends strongly on the characteristics of the project: in certain cases they not only give no further incentives but even destroy contract mechanisms and so worsen the outcome." @default.
- W2127694029 created "2016-06-24" @default.
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- W2127694029 date "2006-01-01" @default.
- W2127694029 modified "2023-09-24" @default.
- W2127694029 title "Public Policy and Venture Capital Financed Innovation: A Contract Design Approach" @default.
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- W2127694029 doi "https://doi.org/10.2139/ssrn.671601" @default.
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