1,721,218 research outputs found
Grounding the case for a European approach to the regulation of automated driving: the technology-selection effect of liability rules
Full text linkIn the current paper, we discuss the need for regulation at EU level of Connected and Automated Driving solutions (henceforth CAD) based on multiple considerations, namely (i) the need for uniformity of criteria across European Member States, and (ii) the impact that regulation—or the absence of it—has on the proliferation of specific technological solutions. The analysis is grounded on legal and economic considerations of possible interactions between vehicles with different levels of automation, and shows how the existing framework delays innovation. A Risk-Management Approach, identifying one sole responsible party ex ante (one-stop-shop), liable under all circumstances—pursuant to a strict, if not absolute liability rule—is to be preferred. We analyse the solution adopted by some Member States in light of those considerations and conclude that none truly corresponds to a RMA approach, and differences will also cause market fragmentation. We conclude that because legal rules determine what kind of technological application is favoured over others—and thence they are not technology-neutral—uniformity across MSs is of essential relevance, and discuss possible policy approaches to be adopted at European level
Dynamic Competition in Pharmaceuticals: Patent Expiry, Generic Penetration, and Industry Structure
No full textThis paper investigates patterns of industrial dynamics and competition in the pharmaceutical industry, with particular reference to the consequences of patent expiry in different countries. We focus on the competition at the level of single chemical entities, distinguishing between original brands and generic products. Quarterly data, spanning from July 1987 to December 1998, on sales of pharmaceutical products in four countries (USA, UK, Germany, and France) constitute the basis of our analysis. All the products containing major molecules whose patent expiration date lies between 1986 and 1996 are included in our sample. We show how diffusion of generics is linked to the characteristics of the market and investigate how price dynamics of original products are affected by generic competition. Our empirical investigation shows that the dynamics of drug prices and the competition by generic drugs vary significantly across countries. This heterogeneity notwithstanding, a clear distinction seems to emerge. On the one hand, systems that rely on market-based competition in pharmaceuticals promote a clear distinction between firms that act as innovators and firms that act as imitators after patent expiry. Here, original products enjoy premium prices and exclusivity profits under patent protection, and face fierce price competition after patent expiry. On the other hand, in systems that rely on administered prices, penetration by generic drugs tends to be rather limited. Its descriptive and preliminary nature notwithstanding, our analysis seems to have relevant implications at different levels of generality, especially for Europe
Learning and dropout in contests: an experimental approach
No full textWe design an experiment to study investment behavior in different repeated contest settings, varying the uncertainty of the outcomes and the number of participants in contests. We find decreasing over-expenditures and a higher rate of ‘dropout’ in contests with high uncertainty over outcomes (winner-take-all contests), while we detect a quick convergence toward equilibrium predictions and a near to full participation when this type of uncertainty vanishes (proportional-prize contests). These results are robust to changes in the number of contestants. A learning parameter estimation using the experience-weighted attraction (EWA) model suggests that subjects adopt different learning modes across different contest structures and helps to explain expenditure patterns deviating from theoretical predictions
From La Bohème to La Wally: How Organizational Status Affects the (Un)conventionality of Opera Repertoires
No full textIn this paper we examine the relationship between organizational status and nonconformity in complex institutional fields characterized by the enduring tension between divergent institutional logics. First, we hypothesize the existence of an inverted U-shaped (IUS) relationship between status and nonconformity. Second, we argue that legitimacy and celebrity enhancing signals, that complement the external perception of a firm’s market identity, moderate the relationship between status and nonconformity, by springing up or inhibiting opportunities for firms to protect vs. raise their status position through high status patterns of affiliations. Specifically, we argue that while celebrity enhancing efforts reinforce middle status nonconformist behaviors by emphasizing the exceptional and positive valence of their nonconformist undertakings, legitimacy enhancing signals constraint middle status deviant behaviors and reverse the IUS curve. Unveiling the taken-for-granted traits of their identities hampers middle status ambition to raise the social hierarchy through nonconformity but fosters low and high status freedom of deviance through a reinforced security in their social position. We found strong support for our arguments in statistical analysis of 42 Italian opera houses repertoires from 2004 to 2011.
We synthesize our findings by offering an integrated framework on how the interplay between status, legitimacy and celebrity enhancing signals affects organizations’ ability to depart from established institutional frameworks under conditions of institutional complexity
Patent disclosure and R&D competition in pharmaceuticals
Full text linkThe prominent role played by patents within the pharmaceutical domain is unquestionable. In this paper, we focus on a relatively neglected implication of patents: the effect of patent-induced information disclosure on the dynamics of R&D and market competition. The study builds upon the combination of two large datasets, linking the information about patents to firm-level data on R&D projects and their outcome. Two case studies in the fields of anti-inflammatory compounds and cancer research complement our analysis. We argue that patent disclosure induces R&D competition and shapes firms' technological trajectories. In fact, we show that under conditions of uncertainty, patent disclosure can contribute to generate knowledge spillovers, promoting multiple parallel research efforts on plausible targets and stimulating private investment and competition.patent disclosure, innovation, R&D competition,
Indicazioni per la governance della spesa farmaceutica
No full textI risultati del modello Farmaregio lasciano emergere numerose considerazioni, sia sulle variabili che influenzano il consumo dei prodotti più economici equivalenti, e che di conseguenza incidono sul costo medio della DDD (defined daily doses), sia in generale sui driver della spesa farmaceutica territoriale. Il capitolo discute i risultati e propone strumenti di policy per il contenimento della spesa farmaceutica regionale
Technological change and the dynamics of networks of collaborative relations. The case of the biopharmaceutical industry
No full textSystemic risk in the global water input-output network
Full text linkThe issue of water access and security has been emphasized in the recent policy debate on sustainable development (Sustainable Development Goal No. 6) and adaptation to climate change (CoP21 in Paris, 2015). This study provides new evidence about the Blue Virtual Water Input-Output Network. The main novelty of our approach is the combination of Structural Decomposition Analysis (SDA) with Network Theory. SDA reveals that size-related, technological and structural components have contributed substantially to changes in virtual water use. Network analysis offers new insights about the vulnerability of the system to shocks through trade links across country-sector pairs. Our analysis highlights a possible trade-off in the increasing importance of virtual water trade: the efficiency improvement in granting access to virtual water might come at the cost of increasing systemic vulnerability. Overall, the great unbalance between water availability and usage combined with rigidity of global consumption and production networks and the risk of cascade effects imply increasing vulnerability of the virtual water network to shocks propagation
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
Sailing in all winds: Technological search over the business cycle
Full text linkBusiness cycles modify firms’ incentives to innovate and the direction of innovation. By introducing a new measure of patent unconventionality this paper explores the impact of the business cycle on firms’ technological search strategies. We find that during upturns firms generate inventions characterized by a higher level of technological unconventionality. We also find that financially resilient and diversified firms produce more unconventional patents. While patent unconventionality is associated with technological impact and market value, firms extract more value by investing in unconventional inventions in downturns
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