Andrew is an Economist in the Resource, Environmental, and
Science Policy Branch of ERS. His research focuses on how
entrepreneurship, firm performance, and industry structure depend
on public and private R&D investments, university research,
training, and related science and technology policies.
Dr. Toole has developed expertise in the evaluation of
publicly funded life science research investment, particularly as
it relates to the economics of the pharmaceutical and biotechnology
industries. He has performed advisory work on science and
technology policy issues for institutions such as the U.S. National
Academies of Science, and the U.S. National Institutes of
Andrew has a Ph.D. in Economics from Michigan State
The Center for European Economic Research (ZEW). (June
2008-present). Dr. Toole is a Visiting Research Professor for the
Industrial Economics Group at ZEW, Mannheim, Germany.
National Bureau of Economic Research (NBER). (April 2005-
present). Dr. Toole is a member of the Entrepreneurship Working
Society Memberships: American Economics Association (AEA),
American Society of Health Economists (ASHE), International Health
Economics Association (iHEA)
Czarnitzki, D., and Toole, A. A. (2010). "Patent protection,
market uncertainty, and R&D investment," Review of
Economics and Statistics, forthcoming.
Toole, A. A., and Czarnitzki, D. (2010). "Commercializing
Science: Is there a University Brain Drain from Academic
Entrepreneurship?" Management Science 56(9),
Czarnitzki, D., and Toole A. A. (2010). "Is there a trade-off
between academic research and faculty entrepreneurship? Evidence
from U.S. NIH supported biomedical researchers," Economics of
Innovation and New Technology, 19(5), 505-520.
Toole, A. A., and Czarnitzki, D. (2009). "Exploring the
relationship between scientist human capital and firm performance:
The case of biomedical academic entrepreneurs in the SBIR program,"
Management Science, 55(1), 101-114.
Toole, A. A., and Turvey, C. (2009). "How does initial public
financing influence private incentives for follow-on investment in
early-stage technologies?" Journal of Technology Transfer,
Czarnitzki, D., and Toole, A. A. (2007). "Business R&D and
the interplay of R&D subsidies and market uncertainty."
Review of Industrial Organization, 31(3), 169-181.
Toole, A. A., and Czarnitzki, D. (2007). "Biomedical academic
entrepreneurship through the SBIR program." Journal of Economic
Behavior & Organization, 63(4), 716-738.
Toole, A. A. (2007). "Does public scientific research complement
private investment in research and development in the
pharmaceutical industry?" Journal of Law & Economics,
David, P. A., Hall, B. H., and Toole, A. A. (2000). "Is public
R&D a complement or substitute for private R&D? A review of
the econometric evidence." Research Policy, 29(4-5),