The nonrivalry of ideas gives rise to increasing returns, a fact celebrated in Paul Romer's
recent Nobel Prize. An implication is that the long-run rate of economic growth is the product …

Many firms, banks, or other economic agents embedded in a network of codependencies
may experience a contemporaneous, sharp drop in functionality or productivity following a …

This paper argues that incumbent firms may acquire innovative targets solely to discontinue
the target's innovation projects and preempt future competition. We call such acquisitions …

In the presence of markup differences, externalities, and other social effects, the direction of
innovation can be systematically distorted. I build a simple model of endogenous technology …

Abstract The Green Economy is an alternative vision for growth and development; one that
can generate economic development and improvements in people's lives in ways consistent …

This article examines the consequences and causes of low enrollment of Black patients in
clinical trials. We develop a simple model of similarity-based extrapolation that predicts that …

We analyze Medicare's influence on private insurers' payments for physicians' services.
Using a large administrative change in reimbursements for surgical versus medical care, we …

The pharmaceutical industry accounts for a substantial chunk of the US economy's research
and development investments, which have resulted in significant medical breakthroughs. At …

An insightful and passionately written book explaining why a return to Enlightenment ideals
is good for the world The greatest challenges facing humankind, according to Deirdre …

We design two laboratory experiments to analyze the causal effects of competition on step-
by-step innovation. Innovations result from costly R&D investments and move technology up …