This paper analyses the decision to invest in a new technology (as a way to increase quality) by a hospital using a real option framework. The environment is characterised by uncertainty on costs and returns of such investment and by the assumption that physicians are 'devoted workers'. We model...

We offer empirical information on the correlates of commercialization activity for research projects funded through the US National Institutes of Health's (NIH's) Small Business Innovation Research (SBIR) award program. Based on this analysis we suggest possible recommendations for improving...

The proliferation of new information and communication technologies such as the Internet has arguably changed the way individuals update the information they use to prevent illness and monitor their health. Compared with other information sources, Internet use reduces information access costs...

The article examines the factors influencing research and development (R&D) in manufacturing entities. Using data on a large sample of companies for the period 1995-2007, the finding indicates that large companies have a higher probability of pursuing R&D, although with lower intensity. In terms...

This study attempts to determine the extent to which new cancer drugs introduced during the last 40 years have prolonged the lives of Americans diagnosed with cancer. We use a difference-in-differences approach: we analyze the correlation across cancer sites (breast, prostate, lung, etc.)...

We use patent citation networks to study the dynamics of technical change in Ethernet, a standard for data communication. We first consider the evolution of the broad technological system of local area networks (LANs) and we identify the most significant inventions within the specific subfield...

We examine how investment possibilities by licensees and nonlicensees affect the two-part licensing contracts offered by an innovator not participating in a homogeneous good oligopolistic market. By undertaking some investments after the decision to accept or reject the licensing contract,...

The prominent role played by patents within the pharmaceutical domain is unquestionable. In this paper, we focus on a relatively neglected implication of patents: the effect of patent-induced information disclosure on the dynamics of R&D and market competition. The study builds upon the...

In this paper, we develop a problem-driven approach to innovation systems to account for the emergence of new knowledge and the long-term evolution of markets. We show that (1) science, technology and markets co-evolve along coherent trajectories of long-term change, which can be efficiently...

Small firms encounter difficulties in collecting external finance due to greater information problems. For small innovative firms, whose activity is more difficult to evaluate, the cost of external finance could be even higher. This paper aims to shed light on special features in financial...