The work of Brandeis Professor and NBER Fellow Adam Jaffe is well worth reading in connection with the ongoing debate on Science policy. His IDEAS page is below. His work examines evaluation of research funding in a number of areas.
link to IDEAS page
An example of his approach is below (may require subscription)
The ‘‘Science of Science Policy’’: reflections on the important questions and the challenges they present
Adam B. Jaffe
Abstract
Developing the ‘‘Science of Science Policy’’ will require data collection and analysis related to the processes of innovation and technological change, and the effects of government policy on those processes. There has been much work on these topics in the last three decades, but there remain difficult problems of finding proxies for subtle con-
cepts, endogeneity, distinguishing private and social returns, untangling cumulative effects, measuring the impact of government programs in a true ‘‘but for’’ sense, and sorting out national and global effects. I offer observations on how to think about these issues.
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