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Title: An Exploration of the Microeconomic Structure of the Academic Research Market: Perfect Competition
Authors: Litwin, Jeffrey
Keywords: academic research market
micro-economic theory
research funding
Issue Date: 30-May-2007
Publisher: OISE/University of Toronto and George Brown College
Abstract: The United States academic research market is an important contributor to the economy of the United States and the world. Vast wealth has been created from the research conducted in universities which, in 2003, amounted to more than $40.0 billion. The competition amoung universities for these funds is intense and, in such circumstances, the use of strategy and strategic processes is important. Thorough strategic processes require a clear understanding of the structure of the market because competitive markets require creativity, risk taking, and other market stimulants. Based on an application of micro-economic theory, which was chosen because of its predictive quality, this paper forwards the current understanding of the structure of the academic research market by describing various attributes of the market that might not have been previously presented in one place, in this context, or for the purpose of informing the strategic formation processes of universities that are engaged in research. This paper concludes that the academic research market is not perfectly competitive.
Description: Academic paper in PDF format.
Appears in Collections:Centre for Advanced Engineering Technologies

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