Scientific knowledge is believed to be the wellspring of innovation. Historically, firms have also invested in research … to fuel innovation and growth. In this paper, we document a shift away from scientific research by large corporations … innovation. Large firms appear to value the golden eggs of science (as reflected in patents) but not the golden goose itself (the …

The history of innovation in the chemical industry offers many insights for accelerating energy innovation. In this … chapter, we begin by laying out the early history of the chemical industry for an overview of the role innovation has played … coal to oil, and briefly analyze two government programs that have attempted to promote innovation: synthetic rubber and …

an induced innovation externality. This alternative mechanism, by contrast, causes people to devote an inefficiently high … level of self-protection. As an empirical example of this externality, we analyze the innovation induced by the obesity … epidemic. Obesity is associated with an increase in the incidence of many diseases. The induced innovation hypothesis is that …

of innovation and imitation, we explore how inventive capability affects a firm's R&D investments, and thus whether and … innovation and the division of innovative labor among US manufacturing firms, we find that high capability firms tend to use …

major changes in the American innovation ecosystem over the past century. The past three decades have been marked by a …

opportunities. The paper also provides new evidence on induced pharmaceutical innovation. In both cases we use the change in the … demographic structure of the market (measured by age structure and obesity prevalence) to test the induced innovation hypothesis … pharmaceutical innovation responds to aging- and obesity-induced changes in potential market size …