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

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 …

Our histories depart somewhat from the bulk of the energy innovation policy literature in focusing attention on the … role of vigorous competition - particularly entry - in stimulating innovation, suggesting that in several industries a mix … stimulating innovation by encouraging extensive competition and entry by newly founded firms. Many of the most innovative …

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 …

impact by serving as a new general-purpose "method of invention" that can reshape the nature of the innovation process and … stimulating research productivity and innovation-oriented competition going forward …