infonet-economy

The New Institutional Economics made various contributions to the field of innovation management. Two specific areas of contribution are highlighted in this paper. The discussion of intellectual property protection starts with the classical concept of balancing the incentives to create new ideas against the benefits of society from disseminating these ideas. Whenever innovation...

A joint Wharton School–World Bank conference called attention to the high proportions of medical care spending paid out of pocket in most developing countries. One of the reasons for this, attendees said, is the problem in such economies of generating high tax revenues in a nondistortive way. Since people are paying out of pocket, they should be able to afford some private insurance...