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Science 8 August 1980:
Vol. 209. no. 4457, pp. 658 - 662
DOI: 10.1126/science.209.4457.658
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Articles

Measuring the Societal Benefits of Innovation

J. G. Tewksbury 1, M. S. Crandall 2, and W. E. Crane 3

1 Vice president of Foster Associates, Washington, D.C. 20036
2 Consultant of Foster Associates, Washington, D.C. 20036
3 Energy survey director at Data Technology Industries, Riverdale, Maryland 20840

Quantitative economic analysis of 20 commercial innovations shows that there is great benefit to society that is often not reflected in the rate of return to the innovator. The study also documents the importance of marketing strategy and proper consideration of risk.

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Science. ISSN 0036-8075 (print), 1095-9203 (online)