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• W2286700438 abstract "In the funding of RD it is the aim of this paper to critically assess this hypothesis. I analyze a principal-agent model in which a funder encourages RD R&D input consists of both an observable and non observable component. In contrast to the stated hypothesis, it is shown that a grant may emerge as an optimal means of funding as a result of the interaction between adverse selection and moral hazard. The model also helps to explain the use of matching grants, it is shown that such grants serve as an effective sorting device in the presence of adverse selection." @default.
• W2286700438 created "2016-06-24" @default.
• W2286700438 creator A5066942617 @default.
• W2286700438 date "2015-01-01" @default.
• W2286700438 modified "2023-09-27" @default.
• W2286700438 title "Push or pull? Grants, prizes and information" @default.
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• W2286700438 hasPublicationYear "2015" @default.
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