1,721,146 research outputs found
Reference Pricing as a Deterrent to Entry: Evidence from the European Pharmaceutical Market
Full text linkExternal reference pricing (ERP), the practice of benchmarking domestic drug prices to foreign prices, generates an incentive for firms to withhold products from low-income countries. Using a novel moment inequality approach, we estimate a structural model to measure how ERP policies affect access to innovative drugs across Europe. We find that ERP increases entry delays in eight low-income European countries by up to one year per drug. The European Union could remove these delays without replacing ERP by compensating firms through lump-sum transfers at the cost of around €18 million per drug
Intellectual Property Rights, Technological Regimes and Market Dynamics
No full textThe paper analyzes the question of the adequate provision of incentives to innovate, identifying relevant trade-offs and highlighting new developments especially as regards intellectual property protection. The paper concludes in favour of technology-specific tailoring of incentives to innovate, by looking particularly at the life sciences and software sectors
The network origins of Schumpeterian innovation
No full textThis paper investigates the key driving features of the evolving long-term division of innovative labor in biotechnology and pharmaceuticals from 1981 to 2012. Our main goal is to find if technological trajectories and mechanisms discovered by Orsenigo et al. (Res Policy 30(3): 485–508, 2001) as the main drivers of the structural configuration of the network of collaborative alliances have been at work in the long-term evolution of the industry. We extensively analyze the evolving dynamics of the degree distribution and the higher order properties of the R&D network. As in Orsenigo et al. (Res Policy 30(3): 485–508, 2001), we find that polarization through preferential attachment driven by large pharmaceutical companies as Developers and by the entry of new specialized biotechnology companies acting as Originators of new R&D opportunities dominated the early stages of the biotechnology revolution. Later on the evolution of the collaborative network has been shaped by roles’ transitions between Originators and Developers of innovative ideas. Against this background, we introduce parsimonious model of network formation and evolution is introduced, to account for some essential features of the data generating processes underlying the evolution of the network
Technological change and the dynamics of networks of collaborative relations. The case of the biopharmaceutical industry
No full textCommodity prices co-movements and financial stability: A multidimensional visibility nexus with climate conditions
Full text linkThis paper investigates the nexus between climate-related variables, commodity price co-movements and financial stability. First, we project the commodity price time series onto a multilayer network. Centrality measures computed on the network are used to detect the existence of common trends between the series and to characterize the role of different nodes during phases of market downturns and upturns, unveiling the onset of financial instability. Then, an econometric analysis is introduced to show how climate-related variables affect financial stability by influencing co-movements of commodity prices. Overall, the paper reveals how synthetic indicators of commodity price co-movements generate valuable signals to study the nexus between climate-related conditions and the dynamics of financial systems
Percorsi evolutivi ed innovativi della funziona logistica nelle imprese industriali
No full textNel corso degli ultimi 20 anni la gestione logistica delle imprese ha subito profondi cambiamenti. Il passaggio attraverso differenti modelli di produzione delinea un cammino evolutivo le cui tappe sono scandite dall'avvicendarsi nella posizione di leadership di distinte funzioni operative. Mentre gli anni '70 hanno rappresentato l'era del primato del marketing e della comunicazione d'impresa, con gli anni '80 la qualità e la ricerca della produttività sono tornati ad essere gli elementi principali sui quali le imprese hanno cercato di costruire il proprio vantaggio competitivo. In questo ambito, la funzione logistica è destinata ad assumere un ruolo guida nei processi di riorganizzazione delle imprese
A Public–Private Insurance Model for Disaster Risk Management: An Application to Italy
Full text linkThis paper proposes a public–private insurance model for earthquakes and floods in Italy in which the insurer and the government co-operate in risk financing. Our model departs from the existing literature by describing an insurance scheme intended to relieve the financial burden that natural events place on governments, while at the same time assisting individuals and protecting the insurance business. Hence, the business aims at maximizing social welfare rather than profits. Given the limited amount of data available on natural risks, expected losses per individual are estimated through risk-modeling. In order to evaluate the insurer’s loss profile, spatial correlation among insured assets is included. Our findings suggest that, when not supported by the government, private insurance might either financially over-expose the insurer or set premiums so high that individuals would fail to purchase policies. This evidence is stronger for earthquake risks, but it is considerable for floods too. We found that jointly managing the two perils alleviates the burden on public capitals by lowering the amount of capitals required and by keeping the probability of additional capital injections into the insurance reserves relatively low
Natural Risk Assessment of Italian Municipalities for Residential Insurance
No full textIn this work, we propose a catastrophe modeling approach to flood and earthquake risk assessment for residential buildings in Italy. This work aims at supporting governors in the definition of a natural risk management strategy. To detect the critical areas of the territory, we compute expected losses per square meter, per municipality, and per structural typology. Our approach allows us to identify the areas where the exposure strongly affects the risk due to the high inhabited density or the presence of fragile buildings. This information is of major relevance for disaster risk reduction. We find that earthquakes in Italy generate annual expected losses approximately equal to 6234.67 million Euros, while flood expected losses amount to about 875.90 million Euros per year. Although earthquakes produce the highest expected losses at the national level, flood losses per square meter often exceed the corresponding earthquake ones
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