Intellectual property rights (IPR) create incentives for research but impose static efficiency losses and other costs. In this essay, we discuss recent proposals of other mechanisms for rewarding innovation and argue that incremental experimentation with mechanisms that supplement rather than...

To overcome the problem of insufficient research and development (R&D) on vaccines for diseases concentrated in low-income countries, sponsors could commit to purchase viable vaccines if and when they are developed. One or more sponsors would commit to a minimum price that would be paid per...

Why are millions dying of neglected diseases without vaccines, and is there a way to cheaply change that? Owen Barder, Michael Kremer and Heidi Williams advocate a proposal--Advance Market Commitments--that the G8 finance ministers plan to pilot in 2006.