| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19430 |
| 来源ID | Working Paper 19430 |
| Do firms underinvest in long-term research? Evidence from cancer clinical trials | |
| Eric Budish; Benjamin N. Roin; Heidi Williams | |
| 发表日期 | 2013-09-12 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We investigate whether private research investments are distorted away from long-term projects. Our theoretical model highlights two potential sources of this distortion: short-termism and the fixed patent term. Our empirical context is cancer research, where clinical trials – and hence, project durations – are shorter for late-stage cancer treatments relative to early-stage treatments or cancer prevention. Using newly constructed data, we document several sources of evidence that together show private research investments are distorted away from long-term projects. The value of life-years at stake appears large. We analyze three potential policy responses: surrogate (non-mortality) clinicaltrial endpoints, targeted R&D subsidies, and patent design. |
| 主题 | Health, Education, and Welfare ; Health ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w19430 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577106 |
| 推荐引用方式 GB/T 7714 | Eric Budish,Benjamin N. Roin,Heidi Williams. Do firms underinvest in long-term research? Evidence from cancer clinical trials. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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