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Expected Profits and The Scientific Novelty of Innovation

Dranove, David - 2020

Innovation policy involves trading off monopoly output and pricing in the short run in exchange for incentives for …

Persistent link: https://www.econbiz.de/10012481677

Gans, Joshua - National Bureau of Economic Research - 2022

Exploitation of disruptive technologies often requires resource deployment that creates conflict if there are divergent beliefs regarding the efficacy of a new technology. This arises when a visionary agent has more optimistic beliefs about a technological opportunity. Exploration in the form of...

Persistent link: https://www.econbiz.de/10013210119

Characterizing the Drug Development Pipeline for Precision Medicines

Chandra, Amitabh - 2017

Precision medicines - therapies that rely on the use of genetic, epigenetic, and protein biomarkers - create a better match between patients with specific disease subtypes and medications that are more effective for those patients. This heterogeneity in response has implications for the decision...

Persistent link: https://www.econbiz.de/10012453687

The Economics of Medical Procedure Innovation

Dranove, David; Garthwaite, Craig; Heard, R. Christopher; … - National Bureau of Economic Research - 2021

This paper explores the economic incentives for medical procedure innovation. Using a proprietary dataset on billing … code applications for emerging medical procedures, we highlight two mechanisms that could hinder innovation. First, the … administrative hurdle of securing permanent, reimbursable billing codes substantially delays innovation diffusion. We find that …

Persistent link: https://www.econbiz.de/10012660115

A Synthetic Model of Disruption and Experimentation

Gans, Joshua - National Bureau of Economic Research - 2021

This paper examines how a firm's choice of the type of experiment impacts on its potential exploitation of new technological opportunities. It does so in the context of the failure of successful firms (or disruption) where the literature has informally suggested that firms undertake errors in...

Persistent link: https://www.econbiz.de/10012599381

Which Markets (Don't) Drive Pharmaceutical Innovation? Evidence From U.S. Medicaid Expansions

Garthwaite, Craig; Sachs, Rebecca; Stern, Ariel D. - National Bureau of Economic Research - 2021

Pharmaceutical innovation policy involves managing a tradeoff between high prices for new products in the short … pharmaceuticals, suggesting low(er) price markets may have different dynamics with respect to innovation policy …

Persistent link: https://www.econbiz.de/10012533304

Does consumer demand pull scientifically novel drug innovation?

Dranove, David; Garthwaite, Craig; Hermosilla, Manuel - In: The Rand journal of economics 53 (2022) 3, pp. 590-638

Persistent link: https://www.econbiz.de/10013464979

Regulating the Direction of Innovation

Gans, Joshua - National Bureau of Economic Research - 2024

This paper examines the regulation of technological innovation direction under uncertainty about potential harms. We …

Persistent link: https://www.econbiz.de/10014635704

The Turing Transformation : Artificial Intelligence, Intelligence Augmentation, and Skill Premiums

Agrawal, Ajay; Gans, Joshua; Goldfarb, Avi - National Bureau of Economic Research - 2023

We ask whether a technical objective of using human performance of tasks as a benchmark for AI performance will result in the negative outcomes highlighted in prior work in terms of jobs and inequality. Instead, we argue that task automation, especially when driven by AI advances, can enhance...

Persistent link: https://www.econbiz.de/10014421192

Internal Disagreement and Disruptive Technologies

Gans, Joshua - National Bureau of Economic Research - 2022

This paper models the adoption by established firms of technologies that are internally disruptive in that different parts of an organization stand to lose or gain from adoption. When agents disagree with a decision they impose costs on the firm. The paper shows that any resistance to change...

Persistent link: https://www.econbiz.de/10013210120