This chapter traces the development of markets for music over the past several centuries. Formally organized music was at first supported primarily by churches and the nobility. Indeed, during the 18th century there was a kind of “arms race” in which noble houses competed for prestige...

This Handbook chapter surveys the extensive body of research on the economics of the pharmaceutical industry (with peripheral attention paid also to regulated medical devices). Pharmaceuticals is one of the world's most research-intensive industries, generating a continuing steam of new products...

This chapter surveys the costs, risks, and challenges encountered in the progressive discovery and development of new pharmaceuticals. The changing methods by which drugs are discovered, the links between companies and academic science, the changing character of public regulation, and the sharp...