We examine the relationship between product liability litigation and innovation by systematically combining data on …

's "revealed beliefs" about future performance and standard measures of corporate innovation. We begin by developing a career … underestimate the probability of failure, are more likely to pursue innovation, and that this effect is larger in more competitive … their firms in a new technological direction. This paper was accepted by Kamalini Ramdas, entrepreneurship and innovation. …

externalities and their impact on regional innovation. We examine MSA-level patent data during the period 1975-2000 and find that … innovation output is higher in regions where large and small firms coexist. The finding is robust to across-region as well as …

We study the interplay between transportation infrastructure, knowledge flows, and innovation. Exploiting historical … variation, we estimate the effect of U.S. interstate highways on regional innovation. We find that a 10% increase in a region …

Patents are a useful but imperfect reward for innovation. In sectors like pharmaceuticals, where monopoly distortions … lower prices. Innovation prizes and other non-patent rewards are becoming more prevalent in government's innovation policy … therefore can generate the right innovation incentives. …