# Tag Info

5

I think the best candidate would be monopolistic competition as introduced by Dixit and Stiglitz (1977) Monopolistic Competition and Optimum Product Diversity, in which two models are introduced. One central theme was product variety and the endogenous determination of the number of product varieties. There are many models formulated within the ...

4

There is a nice review from Petra Moser (NYU) on Patents and Innovation: Evidence from Economic History in the Journal of Economic Perspectives (2013). There is another paper on The Choice between Formal and Informal Intellectual Property: A Review, in the Journal of Economic Literature (2014), where the role of innovation is central.

3

Recently, Bronwyn Hall published an NBER working paper that seems to be exactly what you need. https://www.nber.org/papers/w27203

2

tl;dr: R&D spending cannot stimulate economy during just by increasing long-run aggregate supply because recessions are fluctuations around the long-run aggregate supply and not necessary affected by the long-run aggregate supply. A in which spending on R&D in principle could be more effective in fighting recessions than other spending. The ...

1

The previous +1 answer gives the correct economic mechanism but let me give you some case specific answer here. First of all there actually already is another drug that targets the same disease called Spinraza (see here) with cost of \$750,000 for the first year and then \$350,000 per year after that, so about \\$4 million a decade. Assuming people with this ...

1

In general, a monopolist prices such that marginal revenue equals marginal cost. The revenue is price times quantity. You can increase this revenue by increasing quantity and by increasing price, but you should know that each has an adverse effect on the other. Under monopoly typically less quantity is provided compared to other market forms in order to keep ...

1

Not sure if this question is suitable for this site but here's some (unsubstantiated by data) information and some other interesting points relating to economics behind it. Rationale of the ban is not unfounded. It is based on a rather simple concept famously known as the Porter's Hypothesis. However, there is more economics at play (explained below). But ...

1

I'm not familiar with this area, so I can't tell you what are the seminal works, etc., but a quick search finds Gurley & Johnson (2017) "Viral economics: an epidemiological model of knowledge diffusion in economics": We model the diffusion of economic knowledge using an epidemiological model of susceptible, exposed, infected/inspired, and recovered ...

Only top voted, non community-wiki answers of a minimum length are eligible