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FM Scherer

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Research

F. M. Scherer's research has focused on six main topics: the economics of technological change and economic growth; industrial organization economics; the economics of intellectual property; competition policy and public regulation; the economics of weapons acquisition; and the economics of creative industries (e.g., music composition). Item (4) in the following list of selected publications helped educate a generation of industrial organization economists. Items (2) and (3) continue to be seminal analyses of government - contractor relationships in the acquisition of advanced weapon systems. Items (21) and (19) provided the first mathematical analyses in the economics literature of how inter-firm rivalry accelerates technological innovation. Those articles plus item (18) formulated (with parallel work by Jacob Schmookler) the concepts of technology-push and demand-pull as endogenous forces precipitating technological innovation. Item (18) was also the first to suggest a specific skew distribution for the profits from innovative activity. Definitive evidence on the characteristics of the innovation payoff size distribution was added by items (52) through (57). Item (5) provided evidentiary support underlying the European Commission's Cecchini Report (1988) on the costs of incomplete European integration. Item (8) demonstrated the substantial inefficiencies and profitability reductions resulting from the U.S. conglomerate merger wave of the 1960s and 1970s. An unprecedentedly detailed matrix showing how technology flows through the U.S. economy is presented in item (30), utilized to analyze productivity growth in items (32), (34), and (46), and reconstructed in item (69). Various publications appear also in German, French, Italian, Spanish, Portugese, Russian, Japanese, Chinese, and Arabic.

 

 
 
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