Government Financing of R&D: A Mechanism Design Approach†

Keyphrases

• Mechanism Design 100%
• Entrepreneurs 100%
• Design Approach 100%
• Optimal Policy 100%
• Adverse Selection 100%
• Public Funding 100%
• Private Venture Capital 100%
• Co-financing 100%
• Loan Program 100%
• Welfare Gains 50%
• Two-level 50%
• Positive Externalities 50%
• High Interest Rate 50%
• Effort Level 50%
• Moral Hazard 50%
• Venture Capital Industry 50%
• Direct Subsidies 50%
• Self-financing 50%
• Calibrated Simulation 50%
• R&D Projects 50%
• Cost of Public Funds 50%
• Venture Capital Firms 50%
• Government Contracts 50%
• Government Loans 50%

Economics, Econometrics and Finance

• Mechanism Design 100%
• Externalities 100%
• Credit 100%
• Private Venture Capital 100%
• Industry 50%
• Welfare 50%
• Moral Hazard 50%
• Government Loan 50%
• Self-Financing 50%
• Interest Rate 50%