Edwin Mansfield: An Appreciation

F. M Scherer

affiliation not provided to SSRN


University of Illinois at Urbana-Champaign's Academy for Entrepreneurial Leadership Historical Research Reference in Entrepreneurship

The significant contributions of Edwin Mansfield to the field of the economics of technological change are discussed.His contributions include studies on the diffusion of technical innovation, the effect of firm size on innovation, the role of academic and basic research in increasing innovation and productivity, international technology transfer, and the inaccuracy of technological forecasts.His work has explored uncertainty, decision-making criteria, market structure, speed of diffusion, R&D-productivity links, and other related topics Three areas that reveal Mansfield's contributions regarding the microeconomics of technological innovation are discussed: (1) an ambitious analysis of R&D project outcomes; (2) the first systematic quantification of the theory that there was likely to be a divergence between the private returns from an innovation project and the society-wide benefits; and (3) a study of how academic research provided foundations for innovations made by commercial firms.Other contributions by Mansfield to the field of the economics of technological change are also noted. (JSD)

Keywords: Mansfield, Edwin, Market structure, Technology transfer, Technological change, Management decisions, Industrial research, Academic research, Diffusion of innovations, R&D, Technology innovation, Firm productivity, Uncertainty

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Date posted: November 11, 2009  

Suggested Citation

Scherer, F. M, Edwin Mansfield: An Appreciation (2005). The Journal of Technology Transfer, Vol. 30, Issue 1/2, 3-9 2005. Available at SSRN: https://ssrn.com/abstract=1503896

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