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Tag Archives: Organisation of Markets

How tax rates influence the migration of superstar inventors

To what degree do higher taxes induce valuable and highly skilled individuals to relocate?  The fear is that raising taxes will lead to a “brain drain”.  Our research shows that the most innovative individual inventors are significantly affected by top tax rates when deciding where to live. Additionally, if the average country decreased its top tax rate, it would attract many more foreign superstar inventors to the country. Superstar inventors: the key to a country’s innovation...

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Demand for residential broadband: the impact of usage-based pricing

Telecommunications companies, which once mainly delivered video and telephone services, are shifting their focus to broadband. This transition has led to concerns among regulators that these firms (now internet service providers) may exploit their market power to the detriment of consumers while also potentially limiting innovative activity associated with the internet. Recently, much of this concern has focused on the equal treatment of content – so-called ‘net neutrality’ – by...

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Medical innovation and the labor market: the importance of reducing drug side effects

Pharmaceutical innovation can be enormously valuable, leading to the development of medical treatments that save lives and improve patient quality of life. However, new medications that are powerful and effective are often accompanied by painful and uncomfortable side effects. A powerful illustration of this can be found when examining the innovative Human Immunodeficiency Virus (HIV) and AIDS drugs introduced in 1996, which transformed HIV infection from a virtual death sentence...

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Can market based regulation reduce greenhouse gas emissions? Evidence from the United States

Market-based mechanisms such as ‘cap-and-trade’ have become increasingly popular policy tools for reducing harmful emissions. But designing these schemes so that emissions are curbed efficiently requires understanding key elements of an industry’s structure, notably the degree of market power and the extent to which unregulated foreign producers compete with domestic firms. This research investigates these issues in the US cement industry, an emissions-intensive sector exposed to...

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