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EIB UNIVERSITY RESEARCH SPONSORSHIP PROGRAMME 2013-2015
COST BENEFIT ANALYSIS IN THE RESEARCH, DEVELOPMENT AND INNOVATION SECTOR
UNIVERSITY OF MILAN - DEPARTMENT OF ECONOMICS, MANAGEMENT AND QUANTITATIVE METHODS
UNIVERSITY OF MILAN - DEPARTMENT OF PHYSICS CSIL - CENTRE FOR INDUSTRIAL STUDIES
Massimo Florio Luxembourg, 8 March 2016
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• Developing a CBA theoretical model for evaluating research infrastructure projects (RI)
• Enabling funding agencies to assess the potential future net social benefits generated by a RI
• Testing the CBA model on two case studies with field missions
MOTIVATION AND GOALS OF THE STUDY
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CERN Large Hadron Collider (LHC), Geneve
National Hadrotherapy Center for Cancer Treatment (CNAO) in Pavia, Italy
THE CBA MODEL
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𝑩𝒖 = Use benefits
𝑩𝒏 = Non Use benefits 𝑪𝒖= Costs
THE CBA MODEL
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FIRMS EMPLOYEES
USERS
TAXPAYERS
Use Benefits 𝑩𝒖
Non Use Benefits 𝑩𝒏
Quasi option value (QOV) Existence value (EXV)
Technologcal externalities (𝑻𝒕) Human Capital Formation (𝑯𝒕)
Social benefits to consumers of services (𝑨𝒕)
Knowledge output (𝑺𝒕) Cultural effects (𝑪𝒕)
A final report with guidelines: Exploring Cost-Benefit Analysis of Research, Development and Innovation Infrastructures: An Evaluation Framework, Massimo Florio, Stefano Forte, Chiara Pancotti, Emanuela Sirtori, Silvia Vignetti, CSIL Working paper N. 1/2016
Several additional Working Papers Unimi
Two pilot case study reports
ACHIEVEMENTS: DELIVERABLES
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ACHIEVEMENTS: PUBLICATIONS
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Forthcoming for a Special issue “The Social Impact of Research Infrastructures at the Frontiers of Science and Technology” of the journal “Technology Forecasting and Social Change”,
Milan European Economic Workshop, Milan, 12-13 June 2014
Society for Benefit-Cost analysis, Washington DC, 14-15 March 2015 and 18-19 March 2016
CERN Colloquium, “Cost-Benefit Analysis of the LHC to 2025 and beyond: Was it Worth it?”, Geneva, 11 June 2015 (https://indico.cern.ch/event/398256/)
OECD Global Science Forum, Workshop on Methodologies and Tools for Assessing Socio-Economic Impact of Research Infrastructures, Paris, 3 November 2015
Final conference hosted by DG Research, Brussels, 13 November 2015
ESA Socio-Economic Studies Steering Group Meeting, ‘Cost-Benefit Analysis of the LHC’, Paris, 25 November 2015
ACHIEVEMENTS: DISSEMINATION
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Testing the model on other RIs possibly in other scientific domains such as Life Science, Environment, etc.
Forecasting technological spillovers and human capital effects with econometric ‘treatment’ techniques
Developing a forecasting model for media impact of outreach
Expanding the application of contingent valuation methods to elicit the social value of discoveries (willingness to pay)
Assessments of RDI projects' broader economic impacts (including the territorial perspective)
FUTURE RESEARCH AVENUES
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Memorandum of Understanding signed in November 2015 between the University of Milan and the CERN to develop a model to quantify the socio-economic impact of large-scale, accelerator-based research infrastructures.
The study will feed into the Future Circular Collider (FCC, http://cern.ch/fcc) study which will be available by 2018
NEXT STEP
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