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Three Essays on the Costs of Inducing Innovation.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Three Essays on the Costs of Inducing Innovation./
Author:	Myers, Kyle R.
Description:	1 online resource (129 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 79-01(E), Section: A.
Contained By:	Dissertation Abstracts International79-01A(E).
Subject:	Economics. -
Online resource:	click for full text (PQDT)
ISBN:	9780355129533

Three Essays on the Costs of Inducing Innovation.
Myers, Kyle R.

Three Essays on the Costs of Inducing Innovation. - 1 online resource (129 pages)

Source: Dissertation Abstracts International, Volume: 79-01(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

This dissertation explores the costs and benefits of inducing innovation at the level of markets, individuals and knowledge. First, I examine the extent to which the National Institutes of Health can direct its resources and generate production in specific areas of science. I find that it can, and that science funded through these directed efforts is significantly more productive than average. Second, I identify how willing individual scientists are to adjust the trajectories of their research in exchange for additional resources---the elasticity of direction. Estimated magnitudes suggest that the directional adjustment costs of biomedical science are large enough to warrant policy attention. Finally, in joint work with Mark Pauly, we explore the growing costs of R&D in the pharmaceutical industry in order to identify how much might be efficient cost growth in response to a larger market. Almost all of the growth in R&D spending can be attributed to demand, with no evidence that marginal investments have become less productive over the past thirty years.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355129533Subjects--Topical Terms:

555568
Economics.
Index Terms--Genre/Form:

554714
Electronic books.

Three Essays on the Costs of Inducing Innovation.
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245 1 0 $a Three Essays on the Costs of Inducing Innovation.
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500 $a Source: Dissertation Abstracts International, Volume: 79-01(E), Section: A.
500 $a Advisers: Matthew Grennan; David Hsu.
502 $a Thesis (Ph.D.) $c University of Pennsylvania $d 2017.
504 $a Includes bibliographical references
520 $a This dissertation explores the costs and benefits of inducing innovation at the level of markets, individuals and knowledge. First, I examine the extent to which the National Institutes of Health can direct its resources and generate production in specific areas of science. I find that it can, and that science funded through these directed efforts is significantly more productive than average. Second, I identify how willing individual scientists are to adjust the trajectories of their research in exchange for additional resources---the elasticity of direction. Estimated magnitudes suggest that the directional adjustment costs of biomedical science are large enough to warrant policy attention. Finally, in joint work with Mark Pauly, we explore the growing costs of R&D in the pharmaceutical industry in order to identify how much might be efficient cost growth in response to a larger market. Almost all of the growth in R&D spending can be attributed to demand, with no evidence that marginal investments have become less productive over the past thirty years.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Economics. $3 555568
650 4 $a Management. $3 558618
650 4 $a Health care management. $3 1148454
655 7 $a Electronic books. $2 local $3 554714
690 $a 0501
690 $a 0454
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710 2 $a University of Pennsylvania. $b Health Care Management & Economics. $3 1181722
773 0 $t Dissertation Abstracts International $g 79-01A(E).
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