show that the industry - whose long - term evolution is driven by innovation, imitation and permanent creation of new …

We provide evidence that risk aversion leads pharmaceutical firms to underinvest in radical andnovel innovation. We do …, reducing their willingness to investin potentially valuable radical innovation …

This paper provides evidence that risk aversion leads pharmaceutical firms to underinvest in radical innovation. We …

different configurations of the patent system upon innovation and competition. The model is able to replicate the main stylized … adverse effects in terms of innovation outcomes, as well as of market competition and consumer welfare. Such general …

an innovation rewarding institution. According to our analysis, pharma patents have constituted legal barriers to protect …

This paper studies how insurance coverage policies affect incentives for pharmaceutical innovation. In the United …