of the developing world introduces patent protection for new drug products. This may lead to more research on drugs to … research to products specific to developing country markets. There is some, although limited, evidence of an increase in the … provides a baseline' against which future research activity can be compared once the new global patent regime is fully …

receives a private signal on the success probability of one of many potential research projects and decides when and which … equilibria). In contrast to patents, subsidies to experimentation, research, or innovation cannot typically achieve this …

We develop a model that clarifies the respective advantages and disadvantages of academic and private-sector research … not rely on lack of appropriability or spillovers to generate a rationale for academic research. Instead, we focus on … interests, academia can be indispensable for early-stage research. At the same time, the private sector's ability to direct …