We investigate rewards to R&D in a model where substitute ideas for innovation arrive to random recipients at random …

-by-step innovation. Innovations result from costly R&D investments and move technology up one step. Competition is inversely measured by …-and-neck. All these results are consistent with the predictions of step-by-step innovation models …

This paper compares the role innovation plays in productivity across the four European countries France, Germany, Spain … and the UK using firm-level data from the internationally harmonized Community Innovation Surveys (CIS3). Despite a … still rare. We apply a structural model that describes the link between R&D expenditure, innovation output and productivity …

conclude by offering suggestions for improving future empirical research on this issue …

For decades, the US public and private sectors have committed substantial resources towards cancer research, but the …

origin and patent protection, in order to allow for parameter heterogeneity based on a country's institutional …

predict drug response, may impact drug development times, attrition rates, costs, and the future returns to research and …, expedited product launches, and longer effective patent lives. Our conclusions are, of course, accompanied by numerous caveats …

-term performance. We investigate 495 transactions with a focus on one form of long-term activities, namely investments in innovation as … standard measures of patent quality, we find that patents granted to firms involved in private equity transactions are more … cited (a proxy for economic importance), show no significant shifts in the fundamental nature of the research, and are more …

This paper documents a shift in the nature of innovation in the information technology (IT) industry. Using … comprehensive data on all IT patents granted by the USPTO from 1980-2002, we find strong evidence of a change in IT innovation that … is systematic, substantial, and increasingly dependent on software. This change in the nature of IT innovation has had …