India moved to a constitutional guarantee of universal basic education with the Right to Education (RTE) Act in 2009 that called for full access of children aged 6-14 to free schooling. This paper considers the offsetting effects from induced expansion of private tutoring that limited gains in...

Over the last decade, generic penetration in the U.S. pharmaceutical market has increased substantially, providing significant gains in consumer surplus. What impact has this rise in generic penetration had on the rate and direction of early stage pharmaceutical innovation? We explore this...

We evaluate the welfare effects of differential pricing, voluntary licensing, and compulsory licensing in the Indian market for oral anti-diabetic (OAD) drugs. This market includes a new class of molecules called DPP-4 inhibitors, all of which are under patent protection in India. The Indian...

With increasing frequency, generic drug manufacturers in the United States are able to challenge the monopoly status of patent-protected drugs even before their patents expire. The legal foundation for these challenges is found in Paragraph IV of the Hatch-Waxman Act. If successful, these...

Information provision for social welfare via cheap technological media is now a widely available tool used by policy makers. Often, however, an ample supply of information does not translate into high consumption for information due to various frictions in demand, possibly stemming from...

We provide causal evidence that regulatory shocks associated with drug safety label changes lead to aggregate demand declines of 16.9 percent within two years of a relabeling event. After accounting for all plausible substitution patterns by physicians along with competitor actions, aggregate...

Can regulation reduce risks associated with investing in early-stage firms? Using the passage of the European Orphan Drug Act (EU-ODA), we examine this question in the biopharmaceutical industry. We provide causal evidence that venture capitalists (VCs) are more likely to invest in early-stage...

India took a decisive step towards universal basic education by proclaiming a constitutionally-guaranteed Right to Education (RTE) Act in 2009 that called for full access of children aged 6-14 to free schooling. This paper considers the offsetting effects to RTE from induced expansion of private...