This paper estimates the social returns to investments in innovation. The disparate spillovers associated with … innovation, including imitation, business stealing, and intertemporal spillovers, have made calculations of the social returns … under conservative assumptions, innovation efforts produce social benefits that are many multiples of the investment costs …

I analyze the effects of four types of medical innovation and cancer incidence on U.S. cancer mortality rates during …Under the assumption that there were no pre-dated factors that drove both innovation and mortality and that there would … have been parallel trends in mortality in the absence of innovation, the estimates indicate that there were three major …

We examine the impact of pharmaceutical innovation on the longevity of Australians during the period 1995-2003. Due to …

the elasticity of innovation with respect to the expected price of drugs should be at least as great as the elasticity of … innovation with respect to expected market size (disease incidence). I examine the cross-sectional relationship between … pharmaceutical innovation and market size among a set of diseases (different types of cancer) exhibiting substantial exogenous …

higher rates of lab and outpatient innovation had greater declines in the probability of missing work during 1996-2003. This … for initial disability, the inverse relationship between lab innovation and disability changes disappears. This is because … there is a significant inverse relationship between initial health and the extent of laboratory innovation. But due to …

burden mechanism suggests that the nature of innovation is changing, with negative implications for long-run economic growth …

"In advanced economies like the United States, innovation has long been recognized as a central force for increasing … socioeconomic prosperity and improving human health. Today, U.S. government policy seeks to promote innovation through a suite of … Business Innovation Research program to the National Science Foundation. This book surveys key dimensions of innovation policy …