Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/235114 
Year of Publication: 
2019
Series/Report no.: 
Working Paper Series No. 02
Publisher: 
Bocconi University, Centre for Research on Geography, Resources, Environment, Energy and Networks (GREEN), Milan
Abstract: 
We study how funding agencies should set budget caps for competitive grants. We show that budget caps influence the researchers' submission strategy and, in particular, whether they steer their project choice towards the agencies' favorite projects, and the level of funds they request. The welfare impact of alternative approaches depends on the level of competition, the cost of public funds and the social value of project implementation.
Subjects: 
Competitive Grants
Procurement of Innovation
Project Choice
Research Funding
ResearchTournamen
JEL: 
D8
O25
O30
O31
O38
L2
Document Type: 
Working Paper

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