technologies which reduce the cost of pollution abatement. The innovating firm can patent this innovation and use a licensing fee … to generate revenue. In a world of certainty, the first best level of innovation and abatement can be supported by either … a pollution tax or a marketable permit. However, the returns to the innovator from innovation are not the same under the …

This paper examines the relation between ownership, corporate form, and innovation for a cross-section of private and …: while most innovating firms in the US are publicly traded conglomerates, a substantial fraction of innovation is … countries, where business groups tend to be concentrated in industries with a slower and more fundamental innovation cycle and …

This paper studies the interactions between health insurance and the incentives for innovation. Although we focus on … pharmaceutical innovation, our discussion applies to other industries producing novel technologies for sale in markets with … overutilization of health care. Our study of innovation in the pharmaceutical industry emphasizes the interaction of these incentives …

We study the effects of antitrust policy in industries with continual innovation. A more protective antitrust policy … may have conflicting effects on innovation incentives, raising the profits of new entrants, but lowering those of … continuing incumbents. We show that the direction of the net effect can be determined by analyzing shifts in innovation benefit …

While policymakers often assume venture capital has a profound impact on innovation, that premise has not been … measures of innovation are used in a sample of 530 venture-backed and non-venture-backed firms …

This paper studies the links between productivity, innovation and research at th level. We introduce three new features …: (i) A structural model that explains pro by innovation output, and innovation output by research investment; (ii) New dat … the available data: only a small proportion of firms engage in resea apply for patents; productivity, innovation and …