Research Papers

Patent thickets, stock returns, and conditional CAPM

By Po-Hsuan Hsu, Hsiao-Hui Lee, and Tong Zhou

In order to accelerate knowledge accumulation and technical progress, governments introduced patent systems to encourage inventors to share their ideas, discoveries, and inventions with the public.
Profit Taxation, R&D Spending, and Innovation

By Andreas Lichter, Max Löffler, Ingo E. Isphording, Thu-Van Nguyen, Felix Poege, Sebastian Siegloch

Advances in pharmaceuticals and vaccines, robotics and artificial intelligence dominate newspaper headlines.
Do Incentives Matter for Hospitals?

By Tal Gross, Adam Sacarny, Maggie Shi & David Silver

America spends about 6 cents of every dollar at its hospitals. A natural question to ask: why not just pay those hospitals less?
How important is price variation between health insurers?

By Stuart V. Craig, Keith Marzilli Ericson, and Amanda Starc

We examined how prices vary between insurers for the same procedure at the same hospital, using a dataset of all commercial Massachusetts hospital claims.