We examine whether institutional investors with short-term incentives affect firms' innovation performance. We find that firms with a greater concentration of transient and quasi-indexer institutional investors are associated with lower innovation performance, as measured by patents and...

This paper offers an economic rationale for compulsory licensing of needed medicines in developing countries. The patent system is based on a trade-off between the “deadweight losses†caused by market power and the incentive to innovate created by increased profits from monopoly...

Intro; Title Page; Copyright Page; Table of Contents; Introduction; About This Book; Foolish Assumptions; Icons Used in This Book; Beyond the Book; Where to Go from Here; Part 1 Economics: The Science of How People Deal with Scarcity; Chapter 1 What Economics Is and Why You Should Care; Considering...