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

Innovation is important for firm performance and broader economic growth. But breakthrough innovations necessarily … effect on the rate of breakthrough innovation and the profitability of firms …

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 …

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 …

Existing theories and empirical research on how innovation occurs largely assume that innovativeness is an inherent … differently than those who do self-select into innovating. To test these questions, we designed and implemented an innovation …

Investments in the US Science, Technology, Engineering, Medicine and Innovation (STEMI) enterprise come from many … innovative than government or business funding alone would yield. It also enables significant innovation in the development of …