Article,

Social and Private Rates of Return from Industrial Innovations

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The Quarterly Journal of Economics, 91 (2): 221--240 (1977)

Abstract

I. Introduction, 221.--II. The sample of innovations, 222.--III. Estimation of social benefits: product innovations used by firms, 222.--IV. Parallel innovative efforts, time horizon, and rates of return, 226.--V. Product innovations used by households, 229.--VI. Process innovations, 231.--VII. Social and private rates of return, 233.--VIII. Factors associated with the gap between social and private rates of return, 235.--IX. Unemployment, repercussions on other markets, and future changes in technology, 238.--X. Conclusion, 239.

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