'This edited volume brings together an international set of the best scholars working in the area of science and technology policy. . . this is an interesting and useful collection. Each section concludes with an integrative and insightful commentary which ties the sections together and offers useful perspectives. . . The editors have done a useful job of solving the problem that plagues many edited volumes - introductory sections create a narrative and the sections and chapters are well integrated.' - Maryann P. Feldman, Journal of Economic Literature. This book re-examines the rationale for public policy, concluding that the prevailing 'public knowledge' model is evolving towards a networked or distributed model of knowledge production and use in which public and private institutions play complementary roles. It provides a set of tools and models to assess the impact of the new network model of funding and governance, and argues that governments need to adapt their funding and administrative priorities and procedures to support the emergence and healthy growth of research networks. The book goes on to explain that interdependencies and complementarities in the production and distribution of knowledge require a new and more contextual, flexible and complex approach to government funding, monitoring and assessment.