Séminaire GREDEG - Rolf Golombek (Frisch Centre)

"Innovation Prizes for Environmental R&D"
Quand ? Le 04-05-2017,
de 14:00 à 15:30
Où ? Salle Picasso
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Séminaire GREDEG - Rolf Golombek (Frisch Centre)

 

Title: Innovation Prizes for Environmental R&D

Abstract: An innovator may not be able to capture the social benefit of her innovation. We show that an innovation prize can ensure the efficient level of R&D. We compare a market good innovation with an abatement technology innovation with the same potential to increase social surplus. In the firrst-best outcome, where an innovation prize and a diffusion subsidy are the instruments, the prize for an abatement technology innovation should be greater than the prize for a market good innovation. This ranking may also hold in the second-best outcome, where only an innovation prize is the instrument.

 

Joint work with Mads Greaker (Statistics Norway) and Michael Hoel (Department of Economics, University of Oslo).


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