Do Fixed Patent Terms Distort Innovation? Evidence from Cancer Clinical Trials
NBER WORKING PAPER SERIES DO FIXED PATENT TERMS DISTORT INNOVATION? EVIDENCE FROM CANCER CLINICAL TRIALS Eric Budish Benjamin N. Roin Heidi Williams Working Paper 19430 http://www.nber.org/papers/w19430 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 September 2013 Financial support from NIA Grant Number T32-AG000186 to the NBER, NSF Grant Number 1151497, the Chicago Booth Initiative on Global Markets, the NBER Innovation Policy and the Economy program, and the Petrie-Flom Center at Harvard Law School is gratefully acknowledged. We thank Meru Bhanot, David Burk, Toby Chaiken, Brian Cordonnier, Greg Howard, Niels Joaquin, Megan McGrath, and Ana Medrano-Fernandez for excellent research assistance. Daron Acemoglu, David Autor, Raj Chetty, Joe Doyle, Dan Fetter, Amy Finkelstein, Ray Fisman, Alberto Galasso, Amanda Kowalski, Anup Malani, Matt Notowidigdo, Felix Oberholzer-Gee, Ariel Pakes, Al Roth, Jon Skinner, Alan Sorensen, Scott Stern, Glen Weyl, and seminar participants at BEA, Carnegie Mellon, the CBO, the Cornell Empirical Patent Law Conference, Georgia Tech, Harvard Law School, MIT, the NBER (Industrial Organization, Law and Economics, Productivity, and Public Economics), the Northwestern Kellogg Healthcare Markets conference, Toulouse, UC-Berkeley Haas, UIUC, UVA, Wellesley, and Yale Law School provided very helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2013 by Eric Budish, Benjamin N.
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