My research interests concern the policy and economics of scientific research, technological innovation, and entrepreneurship. Within the context of agriculture and resources, questions of technology and innovation cut broadly and include changes in industry structure, economic development, global trade, and, reciprocally, influences back on the formation of government science and technology policies. Of particular interest is the role played by intellectual property rights–as incentives for innovation and as marketable assets, but also as a source of transaction costs and inefficiencies in R&D in areas where common access problems may arise. Similarly important is the process of technology transfer, whereby, in the U.S. and many other countries, publicly subsidized research generates private economic activity, seeding the entry of new process technologies, new products, new firms, and, occasionally, even entire new industries. A major theme in my work is the balance or tradeoff between the sometimes complementary and sometimes contradictory public versus private characteristics of knowledge as an economic good or asset. My empirical analysis focuses on the relationship between public and private sector innovation in the life sciences for applications in agriculture, medicine, and energy.