TY  - JOUR
AU  - Thursby, Marie
AU  - Thursby, Jerry
AU  - Gupta-Mukherjee, Swasti
TI  - Are There Real Effects of Licensing on Academic Research? A Life Cycle View
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11497
PY  - 2005
Y2  - August 2005
DO  - 10.3386/w11497
UR  - http://www.nber.org/papers/w11497
L1  - http://www.nber.org/papers/w11497.pdf
N1  - Author contact info:
Marie C. Thursby
College of Management
Georgia Institute of Technology
800 West Peachtree Street, NW
Atlanta, GA 30308-1149
Tel: 404/894-6249
Fax: 404/385-4894
E-Mail: mariethursby30@gmail.com

Jerry Thursby
Georgia
E-Mail: jerry.thursby@gmail.com

Swastika Mukherjee
Room- 4119, College of Management
800 West Peachtree Street NW
Atlanta, GA 30332-0520
Tel: 404-206-4138
E-Mail: swastika.mukherjee@mgt.gatech.edu
M1  - published as Marie C. Thursby, Jerry Thursby, Swasti Gupta-Mukherjee. "Are There Real Effects of Licensing on Academic Research? A Life Cycle View," in Adam Jaffe, Josh Lerner, Scott Stern, Marie Thursby, organizers, "Academic Science and Entrepreneurship: Dual Engines of Growth" Journal of Economic Behavior and Organization, 63(4) (Elsevier) (2007)

AB  - Whether financial returns to university licensing divert faculty from basic research is examined in a life cycle context. As in traditional life cycle models, faculty devote more time to research, which can be either basic or applied, early and more time to leisure as they age. Licensing has real effects by increasing the ratio of applied to basic effort and reducing leisure throughout the life cycle, but basic research need not suffer. When applied effort adds nothing to the stock of knowledge, licensing reduces research output, but if applied effort leads to publishable output as well as licenses, then research output and the stock of knowledge are higher with licensing than without. When tenure is added to the system, licensing has a positive effect on research output except when the incentives to license are very high.
ER  -