Josh Graff Zivin on Price Innovation
Crafting an incentive program that encourages innovation
07/15/2011
Meredith Salisbury,
GenomeWeb
When three economists decided to compare the success of grant funding by the National Institutes of Health with that of the Howard Hughes Medical Institute, they never intended the results of their work to be an attack on the NIH model. But many consider that view to be the take-home message of the study.
In a paper due to be published late this year or early next in The RAND Journal of Economics, co-
authors Pierre Azoulay, Joshua Graff Zivin, and Gustavo Manso use the different funding approaches of HHMI and NIH as a testbed for their theories on how to craft an incentive program that encourages innovation.
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Josh Graff Zivin is Associate Professor of International Relations and Pacific Studies and Affiliated Faculty of Economics. He is also a Research Associate at the National Bureau of Economic Research (NBER) and Research Director for International Environmental and Health Studies at the Institute for Global Conflict and Cooperation (IGCC).
