{"id":"https://openalex.org/W4400582914","doi":"https://doi.org/10.1287/mnsc.2023.03362","title":"Scarcity of Ideas and Optimal R&amp;D Policy","display_name":"Scarcity of Ideas and Optimal R&amp;D Policy","publication_year":2024,"publication_date":"2024-07-12","ids":{"openalex":"https://openalex.org/W4400582914","doi":"https://doi.org/10.1287/mnsc.2023.03362"},"language":"en","primary_location":{"id":"doi:10.1287/mnsc.2023.03362","is_oa":false,"landing_page_url":"https://doi.org/10.1287/mnsc.2023.03362","pdf_url":null,"source":{"id":"https://openalex.org/S33323087","display_name":"Management Science","issn_l":"0025-1909","issn":["0025-1909","1526-5501"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310315699","host_organization_name":"Institute for Operations Research and the Management Sciences","host_organization_lineage":["https://openalex.org/P4310315699"],"host_organization_lineage_names":["Institute for Operations Research and the Management Sciences"],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Management Science","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5070464504","display_name":"Suren Basov","orcid":null},"institutions":[{"id":"https://openalex.org/I165779595","display_name":"University of Melbourne","ror":"https://ror.org/01ej9dk98","country_code":"AU","type":"education","lineage":["https://openalex.org/I165779595"]}],"countries":["AU"],"is_corresponding":true,"raw_author_name":"Suren Basov","raw_affiliation_strings":["Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia","Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia;"],"affiliations":[{"raw_affiliation_string":"Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia","institution_ids":["https://openalex.org/I165779595"]},{"raw_affiliation_string":"Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia;","institution_ids":["https://openalex.org/I165779595"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5084010648","display_name":"Nisvan Erkal","orcid":"https://orcid.org/0000-0002-2671-1412"},"institutions":[{"id":"https://openalex.org/I165779595","display_name":"University of Melbourne","ror":"https://ror.org/01ej9dk98","country_code":"AU","type":"education","lineage":["https://openalex.org/I165779595"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Nisvan Erkal","raw_affiliation_strings":["Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia","Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia;"],"affiliations":[{"raw_affiliation_string":"Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia","institution_ids":["https://openalex.org/I165779595"]},{"raw_affiliation_string":"Department of Economics, University of Melbourne, Parkville, Victoria 3010, Australia;","institution_ids":["https://openalex.org/I165779595"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5086123332","display_name":"Deborah Minehart","orcid":null},"institutions":[{"id":"https://openalex.org/I1314586196","display_name":"United States Department of Justice","ror":"https://ror.org/02916qm60","country_code":"US","type":"government","lineage":["https://openalex.org/I1314586196"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Deborah Minehart","raw_affiliation_strings":["United States Department of Justice, Washington, District of Columbia 20530","United States Department of Justice, Washington, District of Columbia 20530;"],"affiliations":[{"raw_affiliation_string":"United States Department of Justice, Washington, District of Columbia 20530","institution_ids":["https://openalex.org/I1314586196"]},{"raw_affiliation_string":"United States Department of Justice, Washington, District of Columbia 20530;","institution_ids":["https://openalex.org/I1314586196"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5002659911","display_name":"Suzanne Scotchmer","orcid":null},"institutions":[{"id":"https://openalex.org/I95457486","display_name":"University of California, Berkeley","ror":"https://ror.org/01an7q238","country_code":"US","type":"education","lineage":["https://openalex.org/I95457486"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Suzanne Scotchmer","raw_affiliation_strings":["University of California, Berkeley, Berkeley, California 94720"],"affiliations":[{"raw_affiliation_string":"University of California, Berkeley, Berkeley, California 94720","institution_ids":["https://openalex.org/I95457486"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5070464504"],"corresponding_institution_ids":["https://openalex.org/I165779595"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0853027,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"71","issue":"4","first_page":"3166","last_page":"3184"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.9969000220298767,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.9969000220298767,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12722","display_name":"Innovation Policy and R&D","score":0.9954000115394592,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.9902999997138977,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/scarcity","display_name":"Scarcity","score":0.6726244688034058},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.5793204307556152},{"id":"https://openalex.org/keywords/mathematical-economics","display_name":"Mathematical economics","score":0.48957571387290955},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.47122135758399963}],"concepts":[{"id":"https://openalex.org/C109747225","wikidata":"https://www.wikidata.org/wiki/Q815758","display_name":"Scarcity","level":2,"score":0.6726244688034058},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5793204307556152},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.48957571387290955},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.47122135758399963}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1287/mnsc.2023.03362","is_oa":false,"landing_page_url":"https://doi.org/10.1287/mnsc.2023.03362","pdf_url":null,"source":{"id":"https://openalex.org/S33323087","display_name":"Management Science","issn_l":"0025-1909","issn":["0025-1909","1526-5501"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310315699","host_organization_name":"Institute for Operations Research and the Management Sciences","host_organization_lineage":["https://openalex.org/P4310315699"],"host_organization_lineage_names":["Institute for Operations Research and the Management Sciences"],"type":"journal"},"license":"public-domain","license_id":"https://openalex.org/licenses/public-domain","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Management Science","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:inm:ormnsc:v:71:y:2025:i:4:p:3166-3184","is_oa":false,"landing_page_url":"http://doi.org/10.1287/mnsc.2023.03362","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Industry, innovation and infrastructure","score":0.6399999856948853,"id":"https://metadata.un.org/sdg/9"}],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":22,"referenced_works":["https://openalex.org/W1560174547","https://openalex.org/W1968980720","https://openalex.org/W1995616651","https://openalex.org/W2003445166","https://openalex.org/W2010628486","https://openalex.org/W2062541318","https://openalex.org/W2071437670","https://openalex.org/W2077867009","https://openalex.org/W2089018631","https://openalex.org/W2103793663","https://openalex.org/W2118692971","https://openalex.org/W2157574385","https://openalex.org/W2165946093","https://openalex.org/W2189298796","https://openalex.org/W2746594663","https://openalex.org/W2750843808","https://openalex.org/W3022424413","https://openalex.org/W3037226056","https://openalex.org/W3121357240","https://openalex.org/W3123821384","https://openalex.org/W4242729763","https://openalex.org/W4365787967"],"related_works":["https://openalex.org/W4391375266","https://openalex.org/W1571141552","https://openalex.org/W4391636338","https://openalex.org/W4386067343","https://openalex.org/W4294250823","https://openalex.org/W2093086151","https://openalex.org/W55936454","https://openalex.org/W2095572632","https://openalex.org/W2944249426","https://openalex.org/W4294609170"],"abstract_inverted_index":{"We":[0,32,122,174],"consider":[1],"a":[2,19,64,74,95,129,156],"model":[3,52],"of":[4,30,44,110,120,138,164],"innovation":[5,13,49],"that":[6,22,135,176],"distinguishes":[7],"between":[8,97],"ideas":[9,17,47,87,111,165,191],"and":[10,99,112,133,166],"innovations.":[11],"Although":[12],"responds":[14],"to":[15,54,71,90,189],"incentives,":[16],"are":[18],"scarce":[20],"resource":[21],"provides":[23],"an":[24,69],"exogenous":[25],"constraint":[26],"on":[27],"the":[28,35,42,51,78,108,117,124,136,144,152,161,177,185],"rate":[29,119,163],"innovation.":[31],"investigate":[33],"how":[34],"optimal":[36,178],"reward":[37,149,179],"structure":[38],"is":[39,94,209],"shaped":[40],"by":[41,143,151,199],"scarcity":[43],"ideas.":[45,121,173],"Substitute":[46],"for":[48,77],"in":[50,63,73],"arrive":[53],"random":[55,58],"recipients":[56],"at":[57,211],"times.":[59],"By":[60],"forgoing":[61],"investment":[62],"current":[65],"idea,":[66],"society":[67],"preserves":[68],"option":[70],"invest":[72],"better":[75],"idea":[76],"same":[79],"market":[80],"niche":[81],"but":[82],"with":[83],"delay.":[84],"Because":[85],"successive":[86],"may":[88],"occur":[89],"different":[91],"people,":[92],"there":[93],"conflict":[96],"private":[98],"social":[100,103,125,153,186],"optimality.":[101],"The":[102,148,206],"planner":[104,154,187],"does":[105],"not":[106],"observe":[107],"arrival":[109,118,162],"learns":[113],"over":[114],"time":[115,182],"about":[116,160],"represent":[123],"planner\u2019s":[126],"beliefs":[127,139],"using":[128],"general":[130],"continuous":[131],"density":[132],"illustrate":[134],"evolution":[137],"can":[140],"be":[141],"tracked":[142],"cumulative":[145],"hazard":[146],"function.":[147],"set":[150],"serves":[155],"dual":[157],"purpose:":[158],"learning":[159],"trading":[167],"off":[168],"lower":[169],"delays":[170],"against":[171],"lower-cost":[172],"show":[175],"increases":[180],"as":[181,192],"passes":[183],"because":[184],"comes":[188],"view":[190],"more":[193],"scarce.":[194],"This":[195],"paper":[196],"was":[197],"accepted":[198],"Joshua":[200],"Gans,":[201],"business":[202],"strategy.":[203],"Supplemental":[204],"Material:":[205],"online":[207],"appendix":[208],"available":[210],"https://doi.org/10.1287/mnsc.2023.03362":[212],".":[213]},"counts_by_year":[],"updated_date":"2025-12-26T23:08:49.675405","created_date":"2025-10-10T00:00:00"}
