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Do Firms Underinvest in Long-Term Research? Evidence from Cancer Clinical Trials

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Cited by:

  1. Dosi, Giovanni & Palagi, Elisa & Roventini, Andrea & Russo, Emanuele, 2023. "Do patents really foster innovation in the pharmaceutical sector? Results from an evolutionary, agent-based model," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 564-589.
  2. Lee Branstetter & Chirantan Chatterjee & Matthew J. Higgins, 2014. "Generic Competition and the Incentives for Early-Stage Pharmaceutical Innovation," NBER Working Papers 20532, National Bureau of Economic Research, Inc.
  3. Michal Fabinger & E. Glen Weyl, 2016. "Functional Forms for Tractable Economic Models and the Cost Structure of International Trade," Papers 1611.02270, arXiv.org, revised Aug 2018.
  4. Joseph P. Newhouse, 2021. "An Ounce of Prevention," Journal of Economic Perspectives, American Economic Association, vol. 35(2), pages 101-118, Spring.
  5. Michal Fabinger & E. Glen Weyl, 2018. "Functional Forms for Tractable Economic Models and the Cost Structure of International Trade," CIRJE F-Series CIRJE-F-1092, CIRJE, Faculty of Economics, University of Tokyo.
  6. Walter Buhr, 2018. "Institutional Economics: A Sketch of Economic Growth Policy," Volkswirtschaftliche Diskussionsbeiträge 183-18, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
  7. Charles I. Jones, 2022. "Taxing Top Incomes in a World of Ideas," Journal of Political Economy, University of Chicago Press, vol. 130(9), pages 2227-2274.
  8. Mark Pauly & Kyle Myers, 2016. "A Ricardian-Demand Explanation for Changing Pharmaceutical R&D Productivity," NBER Working Papers 22720, National Bureau of Economic Research, Inc.
  9. de Rassenfosse, Gaetan & Higham, Kyle, 2019. "Decentralising the Patent System," SocArXiv qzmf8, Center for Open Science.
  10. Margaret K. Kyle, 2019. "The Single Market in Pharmaceuticals," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 55(1), pages 111-135, August.
  11. Sovinsky, Michelle & Stern, Steven & Michel, Chloé, 2019. "Value of Risky Lifestyle Choices," CEPR Discussion Papers 13537, C.E.P.R. Discussion Papers.
  12. Heidi L. Williams, 2017. "How Do Patents Affect Research Investments?," Annual Review of Economics, Annual Reviews, vol. 9(1), pages 441-469, September.
  13. Mark Schankerman, 2015. "Patents Rights and Innovation by Small and Large Firms," STICERD - Economics of Industry Papers 54, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  14. Paul Lehmann & Patrik Söderholm, 2018. "Can Technology-Specific Deployment Policies Be Cost-Effective? The Case of Renewable Energy Support Schemes," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(2), pages 475-505, October.
  15. Desai, Pranav, 2021. "Essays in corporate finance and innovation," Other publications TiSEM 1ef5fdc6-9c52-43df-be1a-d, Tilburg University, School of Economics and Management.
  16. Laura Grigolon & Laura Lasio, 2023. "Biased Beliefs and Stigma as Barriers to Treatment and Innovation Adoption," CRC TR 224 Discussion Paper Series crctr224_2023_277v2, University of Bonn and University of Mannheim, Germany.
  17. Lauren Cohen & Umit G. Gurun & Scott Duke Kominers, 2019. "Patent Trolls: Evidence from Targeted Firms," Management Science, INFORMS, vol. 65(12), pages 5461-5486, December.
  18. Yin, Nina, 2023. "Pharmaceuticals, incremental innovation and market exclusivity," International Journal of Industrial Organization, Elsevier, vol. 87(C).
  19. Michael D. Frakes & Melissa F. Wasserman, 2020. "Investing in Ex Ante Regulation: Evidence from Pharmaceutical Patent Examination," NBER Working Papers 27579, National Bureau of Economic Research, Inc.
  20. Jeffrey Clemens & Stan Veuger, 2017. "Risks To The Returns To Medical Innovation: The Case Of Myriad Genetics," Contemporary Economic Policy, Western Economic Association International, vol. 35(2), pages 345-357, April.
  21. Philippe Aghion & Peter Howitt & Susanne Prantl, 2015. "Patent rights, product market reforms, and innovation," Journal of Economic Growth, Springer, vol. 20(3), pages 223-262, September.
  22. Nicholas Bloom & Paul Romer & Stephen J Terry & John Van Reenen, 2021. "Trapped Factors and China’s Impact on Global Growth [Competition and innovation: an inverted-U relationship]," The Economic Journal, Royal Economic Society, vol. 131(633), pages 156-191.
  23. Jeffrey P. Clemens & Morten Olsen, 2021. "Medicare and the Rise of American Medical Patenting: The Economics of User-Driven Innovation," CESifo Working Paper Series 9008, CESifo.
  24. Gamba, Simona & Magazzini, Laura & Pertile, Paolo, 2021. "R&D and market size: Who benefits from orphan drug legislation?," Journal of Health Economics, Elsevier, vol. 80(C).
  25. Anita Rao, 2020. "Strategic Research and Development Investment Decisions in the Pharmaceutical Industry," Marketing Science, INFORMS, vol. 39(3), pages 564-586, May.
  26. Shai Bernstein & Timothy McQuade & Richard R. Townsend, 2017. "Do Household Wealth Shocks Affect Productivity? Evidence from Innovative Workers During the Great Recession," NBER Working Papers 24011, National Bureau of Economic Research, Inc.
  27. Michal Fabinger & E. Glen Weyl, 2016. "The Average-Marginal Relationship and Tractable Equilibrium Forms," CIRJE F-Series CIRJE-F-1028, CIRJE, Faculty of Economics, University of Tokyo.
  28. Leng, Tiecheng & Liu, Ying & Xiao, Yi & Hou, Chunxiao, 2023. "Does firm financialization affect optimal real investment decisions? Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
  29. Gawel, Erik & Lehmann, Paul & Purkus, Alexandra & Söderholm, Patrik & Witte, Katherina, 2016. "The rationales for technology-specific renewable energy support: Conceptual arguments and their relevance for Germany," UFZ Discussion Papers 4/2016, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
  30. Matthew Grennan & Robert J. Town, 2020. "Regulating Innovation with Uncertain Quality: Information, Risk, and Access in Medical Devices," American Economic Review, American Economic Association, vol. 110(1), pages 120-161, January.
  31. Agarwal, Ruchir & Gaule, Patrick, 2022. "What drives innovation? Lessons from COVID-19 R&D," Journal of Health Economics, Elsevier, vol. 82(C).
  32. Jeffrey Clemens & Joshua D. Gottlieb, 2017. "In the Shadow of a Giant: Medicare’s Influence on Private Physician Payments," Journal of Political Economy, University of Chicago Press, vol. 125(1), pages 1-39.
  33. Isabel Busom & Beatriz Corchuelo & Ester Martínez-Ros, 2017. "Participation inertia in R&D tax incentive and subsidy programs," Small Business Economics, Springer, vol. 48(1), pages 153-177, January.
  34. Lo, Andrew W. & Thakor, Richard T., 2023. "Financial intermediation and the funding of biomedical innovation: A review," Journal of Financial Intermediation, Elsevier, vol. 54(C).
  35. Stern, Ariel Dora, 2017. "Innovation under regulatory uncertainty: Evidence from medical technology," Journal of Public Economics, Elsevier, vol. 145(C), pages 181-200.
  36. Khalil Jebran & Shihua Chen & Wanying Cai, 2022. "Excess of everything is bad: CEO greed and corporate policies," Review of Quantitative Finance and Accounting, Springer, vol. 59(4), pages 1577-1607, November.
  37. Reda Cherif & Christoph Grimpe & Fuad Hasanov & Wolfgang Sofka, 2023. "Promoting Innovation: The Differential Impact of R&D Subsidies," Journal of Industry, Competition and Trade, Springer, vol. 23(3), pages 187-241, December.
  38. Schankerman, Mark & Galasso, Alberto, 2015. "Patents Rights, Innovation and Firm Exit," CEPR Discussion Papers 10968, C.E.P.R. Discussion Papers.
  39. Michael Kremer & Christopher M. Snyder, 2018. "Preventives Versus Treatments Redux: Tighter Bounds on Distortions in Innovation Incentives with an Application to the Global Demand for HIV Pharmaceuticals," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 53(1), pages 235-273, August.
  40. Galasso, Alberto & Luo, Hong, 2016. "Tort Reform and Innovation," CEPR Discussion Papers 11358, C.E.P.R. Discussion Papers.
  41. Pin Gao & Xiaoshuai Fan & Yangguang Huang & Ying-Ju Chen, 2022. "Resource Allocation Among Competing Innovators," Management Science, INFORMS, vol. 68(8), pages 6059-6074, August.
  42. Sebastian Calonico & Rafael Di Tella & Juan Cruz Lopez Del Valle, 2022. "Causal Inference During a Pandemic: Evidence on the Effectiveness of Nebulized Ibuprofen as an Unproven Treatment for COVID-19 in Argentina," NBER Working Papers 30084, National Bureau of Economic Research, Inc.
  43. Amitabh Chandra & Courtney Coile & Corina Mommaerts, 2023. "What Can Economics Say about Alzheimer's Disease?," Journal of Economic Literature, American Economic Association, vol. 61(2), pages 428-470, June.
  44. Sebastian Calónico & Rafael Di Tella & Juan Cruz Lopez del Valle, 2023. "The Political Economy of a “Miracle Cure”: The Case of Nebulized Ibuprofen and its Diffusion in Argentina," NBER Working Papers 31781, National Bureau of Economic Research, Inc.
  45. Koijen, Ralph & Van Nieuwerburgh, Stijn, 2018. "Financing the War on Cancer," CEPR Discussion Papers 12990, C.E.P.R. Discussion Papers.
  46. Eric Budish & Benjamin N. Roin & Heidi Williams, 2016. "Patents and Research Investments: Assessing the Empirical Evidence," American Economic Review, American Economic Association, vol. 106(5), pages 183-187, May.
  47. Hu, Mei-Ying & Lu, You-Xun & Lai, Ching-chong, 2023. "Patent term extensions and commercialization lags in the pharmaceutical industry: A growth-theoretic analysis," Journal of Macroeconomics, Elsevier, vol. 76(C).
  48. Henry Grabowski & Carlos Brain & Anna Taub & Rahul Guha, 2017. "Pharmaceutical Patent Challenges: Company Strategies and Litigation Outcomes," American Journal of Health Economics, MIT Press, vol. 3(1), pages 33-59, Winter.
  49. Kevin A. Bryan & Heidi L. Williams, 2021. "Innovation: Market Failures and Public Policies," NBER Working Papers 29173, National Bureau of Economic Research, Inc.
  50. Alberto Galasso & Mark Schankerman, 2015. "Patent Rights, Innovation and Firm Exit," NBER Working Papers 21769, National Bureau of Economic Research, Inc.
  51. Sudheer Chava & Vikram Nanda & Steven Chong Xiao, 2017. "Lending to Innovative Firms," The Review of Corporate Finance Studies, Society for Financial Studies, vol. 6(2), pages 234-289.
  52. Sarah Armitage & Noël Bakhtian & Adam B. Jaffe, 2023. "Innovation Market Failures and the Design of New Climate Policy Instruments," NBER Chapters, in: Environmental and Energy Policy and the Economy, volume 5, pages 4-48, National Bureau of Economic Research, Inc.
  53. Tania Babina & Alex Xi He & Sabrina T. Howell & Elisabeth Ruth Perlman & Joseph Staudt, 2020. "The Color of Money: Federal vs. Industry Funding of University Research," NBER Working Papers 28160, National Bureau of Economic Research, Inc.
  54. Jeffrey Clemens, 2012. "The Effect of U.S. Health Insurance Expansions on Medical Innovation," Discussion Papers 11-016, Stanford Institute for Economic Policy Research.
  55. Heidi L. Williams, 2016. "Intellectual Property Rights and Innovation: Evidence from Health Care Markets," Innovation Policy and the Economy, University of Chicago Press, vol. 16(1), pages 53-87.
  56. Jeffrey P. Clemens & Parker Rogers, 2020. "Demand Shocks, Procurement Policies, and the Nature of Medical Innovation: Evidence from Wartime Prosthetic Device Patents," CESifo Working Paper Series 8781, CESifo.
  57. Mary K. Olson & Nina Yin, 2018. "Examining Firm Responses to R&D Policy: An Analysis of Pediatric Exclusivity," American Journal of Health Economics, MIT Press, vol. 4(3), pages 321-357, Summer.
  58. Yixiao Zhou & Runyang Zhang & Ligang Song, 2019. "How Funding Structure Affects Efficiency Of R&D Investment By Large- And Medium-Sized Industrial Firms In China? Evidence From Province-Level Panel Data," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 64(04), pages 921-938, September.
  59. Amitabh Chandra & Craig Garthwaite & Ariel Dora Stern, 2018. "Characterizing the Drug Development Pipeline for Precision Medicines," NBER Chapters, in: Economic Dimensions of Personalized and Precision Medicine, pages 115-157, National Bureau of Economic Research, Inc.
  60. Fabian Gaessler & Stefan Wagner, 2022. "Patents, Data Exclusivity, and the Development of New Drugs," The Review of Economics and Statistics, MIT Press, vol. 104(3), pages 571-586, May.
  61. Leila Agha & Soomi Kim & Danielle Li, 2020. "Insurance Design and Pharmaceutical Innovation," NBER Working Papers 27563, National Bureau of Economic Research, Inc.
  62. Andreas Eckert & Wolfgang Maennig, 2021. "Pharmainnovationen: überragende Position der USA und Schwächen der deutschen Forschung [Pharmaceutical Innovations: Superior Position of the USA and Weaknesses of German Research]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(8), pages 652-659, August.
  63. Kalcheva, Ivalina & McLemore, Ping & Pant, Shagun, 2018. "Innovation: The interplay between demand-side shock and supply-side environment," Research Policy, Elsevier, vol. 47(2), pages 440-461.
  64. Eric Budish & Robin S. Lee & John J. Shim, 2019. "A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?," NBER Working Papers 25855, National Bureau of Economic Research, Inc.
  65. Groen-Xu, Moqi & Bös, Gregor & Teixeira, Pedro A. & Voigt, Thomas & Knapp, Bernhard, 2023. "Short-term incentives of research evaluations: Evidence from the UK Research Excellence Framework," Research Policy, Elsevier, vol. 52(6).
  66. Deepak Hegde & Hong Luo, 2018. "Patent Publication and the Market for Ideas," Management Science, INFORMS, vol. 64(2), pages 652-672, February.
  67. Gawel, Erik & Lehmann, Paul & Purkus, Alexandra & Söderholm, Patrik & Witte, Katherina, 2017. "Rationales for technology-specific RES support and their relevance for German policy," Energy Policy, Elsevier, vol. 102(C), pages 16-26.
  68. Joshua Krieger & Danielle Li & Dimitris Papanikolaou, 2022. "Missing Novelty in Drug Development," The Review of Financial Studies, Society for Financial Studies, vol. 35(2), pages 636-679.
  69. Leuz, Christian & Malani, Anup & Muhn, Maximilian & Jakab, László, 2022. "Do conflict of interests disclosures work? Evidence from citations in medical journals," CFS Working Paper Series 702, Center for Financial Studies (CFS).
  70. Kun Su & Heng Liu, 2021. "Financialization of manufacturing companies and corporate innovation: Lessons from an emerging economy," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(4), pages 863-875, June.
  71. Joshua Krieger & Ramana Nanda & Ian Hunt & Aimee Reynolds & Peter Tarsa, 2022. "Scoring and Funding Breakthrough Ideas: Evidence from a Global Pharmaceutical Company," Harvard Business School Working Papers 23-014, Harvard Business School, revised Nov 2023.
  72. Joshua L. Krieger, 2021. "Trials and Terminations: Learning from Competitors’ R&D Failures," Management Science, INFORMS, vol. 67(9), pages 5525-5548, September.
  73. Kremer, Michael & Snyder, Christopher, 2018. "Preventives Versus Treatments Redux: Tighter Bounds on Distortions in Innovation Incentives with an Application to the Global D," CEPR Discussion Papers 12751, C.E.P.R. Discussion Papers.
  74. Anna Chorniy & James Bailey & Abdulkadir Civan & Michael Maloney, 2021. "Regulatory review time and pharmaceutical research and development," Health Economics, John Wiley & Sons, Ltd., vol. 30(1), pages 113-128, January.
  75. Alberto Galasso & Hong Luo, 2016. "Tort Reform and Innovation," NBER Working Papers 22712, National Bureau of Economic Research, Inc.
  76. Bhaven Sampat, 2022. "Second World War and the direction of medical innovation," WIPO Economic Research Working Papers 70, World Intellectual Property Organization - Economics and Statistics Division.
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