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Measuring the Impacts of Fedral Investments in Research by Steve Olson and Stephen Merrill1

.Steve Olson and Stephen Merrill, Rapporteurs.Committee on Measuring Economic and Other Returns.on.Federal Research Investments.Board on Science, Technology, and Economic Policy.Committee on Science, Engineering, and Public Policy.Policy and Global Affairs.THE NATIONAL ACADEMIES PRESS 500 Fifth Street, N.W. Washington, DC 20001NOTICE: The project that is the subject of this report was approved by the.Governing Board of the National Research Council, whose members are drawn.from the councils of the National Academy of Sciences, the National Academy.of Engineering, and the Institute of Medicine. The members of the committee.responsible for the report were chosen for their special competences and with.regard for appropriate balanceThis study was supported by Contract/Grant No. SMA-1019816 between the.National Academy of Sciences and the National Science Foundation;.Contract/Grant No. N01-OD-4-2139, TO #231, between the National Academy.of Sciences and the National Institutes of Health; Contract/Grant NoG104P00159 between the National Academy of Sciences and the U.SGeological Survey; Contract/Grant No. 59-9000-0-0093 between the National.Academy of Sciences and the U.S. Department of Agriculture; Contract/Grant.No. EP-11-H-001414 between the National Academy of Sciences and the.Environmental Protection Agency; Contract/Grant No. DE-SC000614 between.the National Academy of Sciences and the Department of Energy;.Contract/Grant No. NNH10CC488,TO #5, between the National Academy of.Sciences and NASA. Any opinions, findings, conclusions, or recommendations.expressed in this publication are those of the author(s) and do not necessarily.reflect the views of the organizations or agencies that provided support for the.project.International Standard Book Number -13:978-0-309-21748-4.International Standard Book Number -10:0-309-21748-2.Additional copies of this report are available from the National Academies.Press, 500 Fifth Street, N.W., Lockbox 285, Washington, DC 20055; (800) 6246242 or (202) 334-3313 (in the Washington metropolitan area); Internet,.http://www.nap.eduCover: The cover design incorporates a feature of the 1924 National Academy.of Sciences building in Washington. Sculpted by Lee Lawrie, the bronze.cheneau, running the length of the roof, features alternating figures of owls and.lynxes, symbolizing wisdom and alert observation, respectivelyCopyright 2011 by the National Academy of Sciences. All rights reservedPrinted in the United States of America.The National Academy of Sciences is a private, nonprofit, self-perpetuating.society of distinguished scholars engaged in scientific and engineering research,.dedicated to the furtherance of science and technology and to their use for the.general welfare. Upon the authority of the charter granted to it by the Congress.in 1863, the Academy has a mandate that requires it to advise the federal.government on scientific and technical matters. Dr. Ralph J. Cicerone is.president of the National Academy of SciencesThe National Academy of Engineering was established in 1964, under the.charter of the National Academy of Sciences, as a parallel organization of.outstanding engineers. It is autonomous in its administration and in the selection.of its members, sharing with the National Academy of Sciences the.responsibility for advising the federal government. The National Academy of.Engineering also sponsors engineering programs aimed at meeting national.needs, encourages education and research, and recognizes the superior.achievements of engineers. Dr. Charles M. Vest is president of the National.Academy of EngineeringThe Institute of Medicine was established in 1970 by the National Academy of.Sciences to secure the services of eminent members of appropriate professions.in the examination of policy matters pertaining to the health of the public. The.Institute acts under the responsibility given to the National Academy of Sciences.by its congressional charter to be an advi