The COVID-19 crisis has starkly illustrated both the strengths and limitations of U.S. biomedical innovation institutions as deployed to fight a pandemic. These innovation institutions include not just intellectual property law, but also other legal systems that structure incentives for...

The United States has recently — and belatedly — come to recognize opioid addiction as a public health crisis. What has gone mostly unrecognized is the degree to which this crisis is intertwined with U.S. intellectual property law and related elements of U.S. innovation policy. Innovation...

This paper studies the relationship between the diffusion of innovative procedures for the treatment of heart attack and distributions of the cost and length of hospital stays. Using a sample of 5,681 stays observed in French public hospitals, we use microsimulation techniques to highlight...

This paper studies the relationship between the diffusion of innovative procedures for the treatment of heart attack and distributions of the cost and length of hospital stays. Using a sample of 5,681 stays observed in French public hospitals, we use microsimulation techniques to highlight...

I demonstrate that to achieve dynamic efficiency, the optimal share of total surplus that a social payer should transfer to an innovating industry for a current asset depends on the marginal product of investment and the share of profits invested by the industry on the current asset and not on...