In the presence of markup differences, externalities and other social considerations, the equilibrium direction of innovation can be systematically distorted. This paper builds a simple model of endogenous technology, which generalizes existing comparative static results and characterizes...

This chapter from the forthcoming Cambridge University Press volume Gene Patents and Clearing Models: From Concepts to Cases comments on the international FAO treaty for sharing genetic resources and on proposals by Rai et al. to create a shared testing system for small molecule pharmaceutical...

This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation. Focusing on exogenous changes driven by U.S. demographic trends, we find that a 1 percent increase in the potential market size for a drug category leads to a 4 to 6 percent...

We analyse research collaboration in the Italian biotechnological sector using bibliometric data. We build a database of all scientific publications of Italian biotechnology firms over the period 1990 to may 2006 and we provide evidence on the institutional and geographical nature of research...

New business formation is a key driver of regional transformation and development. While we know that a region's attractiveness for new businesses depends on its resources, infrastructure, and human capital, we know little about the role of local business networks in promoting or impeding the...

This paper studies a repeated-game model in which firms can build a reputation for rewarding innovative employees. In any Pareto efficient equilibrium, low-value innovations get developed in established firms, while high-value innovations get developed in startups. The threshold level can be...

In this paper, we focus on the connections between creativity, social capital and economic performance and growth. Our working hypothesis is that both creativity and social capital influences the economy, both each per se, but also through their influence on each other. We regard creativity as...

Analyzes the uses and functions of business models through original, qualitative case studies focused on research-based spin-offs.

At Thanksgiving 2018, while visiting his video-artist daughter, the author of this paper re-read Atlas Shrugged for the second time, 44 years after first reading, as described in a paper promulgated on SSRN in late January, 2019. Then a few weeks later, at Christmas 2018, while visiting his...

Seven “Corporate Venturing” Strategies to Foster Innovation tackles the question: What should companies do to accelerate innovation and remain relevant? Or, stated differently: What should companies do to avoid being disrupted by more agile and innovative startups? One answer is corporate...