Venture capitalists (VCs) traditionally invest in risky, early-stage innovations. Recent research suggests, however, that VCs may be herding into less risky, later-stage projects. Such a shift can create funding gaps for early-stage firms. Can regulation reverse this trend by providing...

Regulatory enforcement of product safety standards given health concerns, whether it is in romaine lettuce, smartphones or cars, is emerging to be a challenge for global public health. This is particularly true for developing economies with fragile institutions. In this context, recent studies...

Free market advocates consider consumer choice unambiguously welfare-enhancing, but critics argue that availability of certain products can be detrimental for society. Contributing to this debate, we study the case of controversial skin whitening products sold widely in emerging markets....

This research explores the role of trademark litigation as a deterrent strategy against counterfeiters in markets where government trademark enforcement is weak. Litigation can convey to potential counterfeiters that a trademark-holding firm would sue upon entry. We explore this idea empirically...

Do political statements without a scientific basis on medicines cause global pharmaceutical demand spillovers during pandemics? We examine this question using novel sales data from 2018-2020 in the Indian domestic anti-malarial drug markets. Our context is the President of the United States...

Public sector provision allows redistribution of essential goods and services but may also create adverse impact on private-sector providers. How do private firms respond to the entry of public firms? Answering this question can help design policies to balance redistribution against private...

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...