• Medientyp: E-Book
  • Titel: Expected Profits and the Scientific Novelty of Innovation
  • Beteiligte: Dranove, David [Verfasser:in]; Garthwaite, Craig [Sonstige Person, Familie und Körperschaft]; Hermosilla, Manuel [Sonstige Person, Familie und Körperschaft]
  • Erschienen: [S.l.]: SSRN, [2020]
  • Umfang: 1 Online-Ressource (71 p)
  • Sprache: Englisch
  • DOI: 10.2139/ssrn.3563347
  • Identifikator:
  • Entstehung:
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 2020 erstellt
  • Beschreibung: Innovation policy involves trading off monopoly output and pricing today in exchange for incentives for firms to develop new products. While existing research demonstrates that expected profits fuel R&D investments, little is known about the novelty of funded projects. We expand this literature by examining the scientific novelty of pharmaceutical R&D following the creation of Medicare Part D. We find little evidence that the implied positive demand shock prompted firms to undertake scientifically novel R&D, as measured by whether scientific approaches had been used before. However, some evidence suggests that firms invested in products involving novel combinations of scientific approaches
  • Zugangsstatus: Freier Zugang