India surpassed the USA to become the second largest global smartphone market in terms of users in early 2016. India has continued to register strong demand for smartphones to connect hundreds of millions of users to the internet. There is a substantial opportunity for every player in the mobile...

Venture capitalists (VCs) ideally like to invest in innovations at a nascent stage but this is inherently incorporated with huge risks (Ruhnka and Young 1991, Gompers 1995). Because it is difficult to value novel technologies at an early development stage, VCs may be herding into financing...

We evaluate the welfare effects of differential pricing, voluntary licensing, and compulsory licensing in the Indian market for oral anti-diabetic (OAD) drugs. This market includes a new class of molecules called DPP-4 inhibitors, all of which are under patent protection in India. The Indian...

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 article investigates how incumbents respond to low-end firm entry. Prior theory suggests that high-end incumbents raise their price in response to a profit-maximizing low-cost entrant but lower their price in response to a welfare-maximizing low-end entrant. This paper uses a dataset of 206...