Time substitution and network effects with an application to nanobiotechnology policy for US universities |
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| Institution: | 1. Faculty of Commerce, Fukuoka University, Fukuoka 814-0180, Japan;2. Department of Economics and Finance, Southeast Missouri State University, Cape Girardeau, MO 63701, USA;3. University of Missouri, Columbia, MO, USA;1. Associate Professor in Banking and Finance,UQ Business School,The University of Queensland,Australia;2. National Graduate Institute for Policy Studies,Tokyo,Japan;1. Ariel University, Ariel, Israel;2. San Francisco State University, United States;3. The Hebrew University of Jerusalem, Jerusalem, Israel;4. University of Cincinnati, United States;1. University of Essex, UK;2. University of Sheffield, UK;3. University of Nottingham, UK;1. Department of Engineering Mechanics, Zhejiang University, Hangzhou, People’s Republic of China;2. Key Laboratory of Soft Machines and Smart Devices of Zhejiang Province, Hangzhou, People’s Republic of China |
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| Abstract: | We present a dynamic network model of the knowledge production process for nanobiotechnology research at 25 US universities during 1990–2005. Universities produce knowledge outputs in nanobiotechnology consisting of Ph.D. graduates, research publications, and patents. Inputs include the university’s spending on R&D in engineering and the life sciences, and the university’s own stock of knowledge measured by past publications in nanobiotechnology. In addition, universities take advantage of the stock of knowledge produced by other universities in previous periods. We simulate the effect of the National Science Foundation being able to optimally allocate research funds for nanobiotechnology research between universities and across time so as to maximize the aggregate amounts of the three knowledge outputs produced by the universities. |
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| Keywords: | Network production Time substitution Nanobiotechnology Knowledge outputs |
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