Benjamin Jones and Josh Lerner, editors
Entrepreneurship and innovation are widely recognized as key drivers of economic dynamics and long-term prosperity. This series communicates new findings about the determinants and impacts of entrepreneurial and innovative activity across the economy.
In the first paper, Joseph Barberio, Jacob Becraft, Zied Ben Chaouch, Dimitris Bertsimas, Tasuku Kitada, Michael Li, Andrew Lo, Kevin Shi, and Qingyang Xu measured incentives for pharmaceutical companies to develop vaccines against future diseases and of investments are recorded. Risk, low expected return, rarity of pandemics, etc. They analyze a portfolio approach to funding vaccine research.
Next, Daniel Hemmel and Lisa Larimore-Oulet discuss the trade-offs between quality, price, and access that occur after generic drug patents expire, and explore the implications of these trade-offs for regulatory policy.
A third paper, by Silvia Dalla Fontana and Ramana Nanda, explores the role of patents in the transition to a decarbonized world. The researchers found that “net-zero patents” are near the frontier of science, yet receive low levels of funding from venture capitalists due to the difficulty of commercializing inventions.
Jacqueline Press explores the impact of corporate divestments on innovation in carbon-intensive businesses and finds that investing in companies and engaging in green corporate governance practices is more green than divestment. It concludes that it has the potential to induce innovation.
Second, Robert Fairey and David Robinson argue that black-owned innovation-intensive businesses start small and do not converge over time with comparable businesses owned by members of other groups. I discovered. They attribute this not only to differences in access to bank loans, but also to ‘soft information’ that can be important in the entrepreneurial process.
Finally, Jonathan Gruber, Simon Johnson, and Enrico Moretti consider the regional concentration of innovative activity in the United States, finding that while concentration of activity offers short-term advantages, more dispersed innovation clusters, including: There may be long-term benefits, he said. Fairness, industrial diversification, human resource development.