We conduct the first empirical test of the knowledge burden hypothesis, one of several theories advanced to explain … increasing team sizes in science. For identification, we exploit the collapse of the USSR as an exogenous shock to the knowledge … frontier causing a sudden release of previously hidden research. We report evidence that team size increased disproportionately …

Investment in research and development (R&D) affects a country's total factor productivity. Recently new theories of …

Does regulation affect the pace and nature of innovation and if so, by how much? We build a tractable and quantifiable ….4% lower due to the regulation, a 2.2% consumption equivalent welfare loss. Four-fifths of this loss is due to lower innovation … changes in the direction of R&D, and find that regulation's negative effects only matter for incremental innovation (as …

We examine innovative contexts like scientific research or technical R&D where agents must search across many potential … research illustrates our framework in a real-world setting: data on moderately promising genetic targets delays valuable …

experiment based on the Obama administration's staggered introduction of open-access requirements for federally-funded research …

regulation, in both a prospective and retrospective sense. Much of the extant progress is presented on the front of private costs …