M&A, Competition, and Innovation in Medical Technology

Funded Research Proposal

Innovation in medical technology has played a large role in the growth in welfare benefits and monetary costs due to health care over the last half century. Like many industries that rely on innovation, medical technology has an active market for corporate mergers and acquisitions (M&A). Read More

Physician-Industry Interactions: Persuasion and Welfare

Working Papers

In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. We combine a model of supply and demand with a local instrumental variables strategy based on regional spillovers from academic medical center conflict-of-interest policies. Read More

Regulating Innovation with Uncertain Quality: Information, Risk, and Access in Medical Devices

Working Papers

We study the impact of regulating product entry and quality information requirements on an oligopoly equilibrium and consumer welfare. Product testing can reduce consumer uncertainty, but also increase entry costs and delay entry. Read More

Firm Scope and Spillovers From New Product Innovation: Evidence From Medical Devices

Working Papers

When firms span related product categories, spillovers across categories become central to firm strategy and industrial policy, due to their potential to foreclose competition and affect innovation incentives. Read More

Innovation and Product Risk: Firm Strategy and Public Welfare

Funded Research Proposal

Innovative new products come with hope, but also risk that they will not work as well as hoped. Thus testing and monitoring are key strategic decisions of an innovative firm in any market, and in some markets these strategic decisions will be intertwined with government regulatory policy.Read More