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We study the implications of social interactions for financial markets in which investors exhibit different degrees of sophistication and can influence each other's beliefs through their interaction. We show that social interactions can either increase or decrease the likelihood for a financial...
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given technology affects subsequent innovation. To shed light on this question, I analyze the sequencing of the human genome … innovation, as of 2009, from genes sequenced by the public effort over the same time period, a comparison group that appears … within-gene flow measures of subsequent innovation. Both analyses suggest Celera's IP led to reductions in subsequent …
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that the welfare impact of the GE innovation is significant. In the last five years of the period analyzed, our preferred …
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