全球智库信息集成服务系统(G2TT): Demand Shocks, Procurement Policies, and the Nature of Medical Innovation: Evidence from Wartime Prosthetic Device Patents

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w26679
来源ID	Working Paper 26679
	Demand Shocks, Procurement Policies, and the Nature of Medical Innovation: Evidence from Wartime Prosthetic Device Patents
	Jeffrey Clemens; Parker Rogers
发表日期	2020-01-20
出版年	2020
语种	英语
摘要	We analyze wartime prosthetic device patents to investigate how procurement policy affects the cost, quality, and quantity of medical innovation. Analyzing whether inventions emphasize cost and/or quality requires generating new data. We do this by first hand-coding the economic traits emphasized in 1,200 patent documents. We then train a machine learning algorithm and apply the trained models to a century's worth of medical and mechanical patents that form our analysis sample. In our analysis of these new data, we find that the relatively stingy, fixed-price contracts of the Civil War era led inventors to focus broadly on reducing costs, while the less cost-conscious procurement contracts of World War I did not. We provide a conceptual framework that highlights the economic forces that drive this key finding. We also find that inventors emphasized dimensions of product quality (e.g., a prosthetic's appearance or comfort) that aligned with differences in buyers' preferences across wars. Finally, we find that the Civil War and World War I procurement shocks led to substantial increases in the quantity of prosthetic device patenting relative to patenting in other medical and mechanical technology classes. We conclude that procurement environments can significantly shape the scientific problems with which inventors engage, including the choice to innovate on quality or cost.
主题	Public Economics ; National Fiscal Issues ; Health, Education, and Welfare ; Health ; Development and Growth ; Innovation and R& ; D
URL	https://www.nber.org/papers/w26679
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/584353
推荐引用方式 GB/T 7714	Jeffrey Clemens,Parker Rogers. Demand Shocks, Procurement Policies, and the Nature of Medical Innovation: Evidence from Wartime Prosthetic Device Patents. 2020.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w26679.pdf（710KB）	智库出版物		限制开放	CC BY-NC-SA	浏览