Weitzman, Martin L.; Newey, Whitney; Rabin, Michael - In: Bell Journal of Economics 12 (1981) 2, pp. 574-590
The basic point of this article is that a "crash program" mentality leads to inappropriate questions and wrong answers about policy issues in large-scale government subsidized research, like the development of synfuels. R&D funding should be viewed as a sequential decision, not a...