The joint presence of technological change and consumption externalities is central to health care industries around the world, because medical innovation drives the expansion of the health care sector and altruism seems to motivate many public subsidies. Although traditional economic analysis...

Although the not-for-profit sector contributes greatly to aggregate output in many industries, there has been little explicit analysis of the economic consequences of applying antitrust policy in this sector. Despite the differences between for-profit and nonprofit firms stressed in conventional...

A patent protects an innovator only from others who produce the same product, but it does not protect him from others who produce better products under new patents. Previous work has emphasized that intellectual property regulations stimulate research and development by protecting innovative...

This paper examines the impact and interrelationships between direct-to-consumer (DTC) and physician-oriented marketing on the sales composition of the prescription (Rx) and over-the-counter (OTC) versions of antiulcer and heartburn medications. To understand better the implications for...