THE EFFICIENT ACHIEVEMENT OF RAPID TECHNOLOGICAL PROGRESS-A MAJOR NEW PROBLEM IN PUBLIC FINANCE,
Abstract
A discussion is presented on the following topics: Characteristics of the R and D process--outputs, inputs, and kinds of projects; Special characteristics of the R and D process; Conjectures about efficient R and D policy; The role of conventional benefit--cost calculations; A central question--probing the technological frontiers in systems development, or in research and independent component developments; Objectives of research and independent component developments--facilitating better systems choices and expanding the range of nonrisky alternatives; The running of systems developments-the importance of hedging.
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 01, 1965
- Accession Number
- AD0625472
Entities
People
- Richard R. Nelson
Organizations
- RAND Corporation