innovations by taking more time to perform their reviews. We study the relationship between the length of patent review and the … importance of inventions in a theoretical model. We build a simple model of the US patent review process. The model predicts that …, controlling for a patent's position in the new technology cycle, more important innovations would (and should) be approved more …

may even reduce welfare. The reason is that it crowds our proprietary innovation, which on net may reduce total innovation …

A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often … and can account for the differences across sectors in the propensity to patent. Surprisingly, in general, the protection …

This paper studies how patent rights and price regulation affect how fast new drugs are launched in different countries … duration and content of patent and price control regimes. Price regulation strongly delays launch, while longer and more … extensive patent protection accelerates it. Health policy institutions, and economic and demographic factors that make markets …

measure of innovation alternative to patent count. Unlike the impact on patent count, we do not find that VC investment … impact on patent count at industry level, and this impact is larger than that of R&D expenditures. We confirm that this … and material. Therefore, our finding suggests that, at industry level, VC investment increases the patent propensity but …

This paper quantifies the relationship between market size and innovation in the pharmaceutical industry. We estimate … the elasticity of innovation, as measured by the number of new chemical entities appearing on the market for a given … acting on their behalf such as insurers and governments) to spend on their treatment during the patent lifetime. We find …

We show that when the researcher’s (observable but not contractible) contribution to innovation is crucial, a covenant …