We examine the consequences of prosecuting people who are human immunodeficiency virus (HIV) positive and expose others to the infection. We show that the effect of such prosecutions on the spread of HIV is a priori ambiguous. The prosecutions deter unsafe sex. However, they also create...

Standard analysis of intellectual property focuses on the balance between incentives for research and the welfare costs of restraining output through monopoly pricing. We present evidence from the pharmaceutical industry that output often fails to rise after patent expirations. Patents restrict...