The ecomic importance of invative activity brings with it an active debate on public policy's effect on the invation process. This annual series, sponsored by the National Bureau of Ecomic Research, brings the work of leading academic researchers to the broader policy community. Volume 6 considers such topics as the diversity of patent protection and the implications of weak patents for invation and competition; reforms in U.S. patent policy that will encourage invation; the multifaceted benefits of the Internet for consumers, including price competition and vel forms of communication; the drug development and approval process; the offshoring of research and development; and the advantages of industry-specific studies of the relationship between invation and competition. The papers highlight the role ecomic theory and empirical analysis can play in evaluating current and prospective invation policy alternatives.
Adam B. Jaffe is Fred C. Hecht Professor in Economics and Dean of Arts and Sciences at Brandeis University. Josh Lerner is Jacob H. Schiff Professor of Investment Banking at Harvard Business School, with a joint appointment in the Finance and Entrepreneurial Units. He is the author of The Boulevard of Broken Dreams: Why Public Efforts to Boost Entrepreneurship and Venture Capital Have Failed and What to Do About It. Scott Stern is Associate Professor of Management and Strategy at the Kellogg School of Management, Northwestern University.