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Measuring the Societal Benefits of Innovation

J. G. Tewksbury, M. S. Crandall and W. E. Crane
Science
New Series, Vol. 209, No. 4457 (Aug. 8, 1980), pp. 658-662
Stable URL: http://www.jstor.org/stable/1684342
Page Count: 5
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Measuring the Societal Benefits of Innovation
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Abstract

Quantitative economic analysis of 20 commercial innovations shows that there is great benefit to society that is often not reflected in the rate of return to the innovator. The study also documents the importance of marketing strategy and proper consideration of risk.

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