Evaluation of the results of research and development: Where we stand

Some current efforts to solve the problem of evaluating the economic results of R&D are described and critically examined. The various existing techniques have been grouped according to three levels of evaluation: 1) the broad macrolevels of the economy or the industry, 2) the narrower level of the firm and 3) the sharpest level of the individual research project. General comments are made on the nature of a number of mathematical models that have been proposed for evaluation at the various levels. The need for additional work in this area is pointed out.