We develop a dynamic duopoly model of R&D competition to improve the quality of a final good. The innovation process is sequential and cumulative, and takes place alongside production in an infinite-horizon setting. In this context we study the R&D incentive impacts resulting from a...

This paper studies how the strength of intellectual property rights (IPRs) affects investments in biological innovations when the value of an innovation is stochastically reduced to zero because of the evolution of pest resistance. We frame the problem as a research and development (R&D)...

The exclusivity conferred to inventors by intellectual property rights (IPRs) provide an ex ante incentive for innovation, but the resulting market power yields an ex post inefficiency (because it limits use of the innovation). Strong IPRs may also affect innovation by limiting access of...

This paper studies how the strength of intellectual property rights (IPRs) affects investments in biological innovations when the value of an innovation is stochastically reduced to zero because of the evolution of pest resistance. We frame the problem as a research and development (R&D)...

"We develop a quality ladder model to study the R&D incentive impacts of intellectual property rights with a "research exemption" or "experimental use" provision. The innovation process is sequential and cumulative and takes place alongside production in an infinite-horizon setting. We solve the...

A large literature has documented significant public health benefits associated with the minimum legal drinking age in the United States, particularly because of the resulting effects on motor vehicle accidents. These benefits form the primary basis for continued efforts to restrict youth access...

A large literature has documented significant public health benefits associated with the minimum legal drinking age in the United States, particularly because of the resulting effects on motor vehicle accidents. These benefits form the primary basis for continued efforts to restrict youth access...

A large literature has documented signicant public health benets associated with the minimum legal drinking age in the United States, particularly because of the resulting eects on motor vehicle accidents. These benets form the primary basis for continued eorts to restrict youth access to...