SES Health Gradients during the Epidemiological Transition: The Case of China

The epidemiological transition, which has already passed the developed world, is still progressing in many developing countries. A particular problem associated with this transition is the under-diagnosis and lack of treatment of chronic diseases, and these may exhibit SES gradients and exacerbate social inequality. Using hypertension as an example and data from China (CHNS), we find that the prevalence of hypertension in China is already close to levels in developed countries, under-diagnosis is pervasive, treatment is rare, and failure to control is widespread. Consistent with the literature, we find no income and education gradients in the prevalence of hypertension. However, there are strong education gradients in diagnosis and treatment in urban areas. The income gradients in all aspects of hypertension are relatively weak and sometimes nonexistent. Interestingly, we find that access to health care does not contribute to the diagnosis of hypertension, nor does it aid much in the treatment and control of hypertension. Our results suggest that the epidemiological transition has indeed occurred, but both the Chinese public and its health care system are ill-prepared. There is an urgent need to educate the public on chronic illnesses, and to raise the quality of health care so that patients receive proper diagnoses and guidance on how to treat and control those chronic illnesses.epidemiological transition, under-diagnosis, SES health gradients

SES Health Gradients during the Epidemiological Transition : The Case of China

The epidemiological transition, which has already passed the developed world, is still progressing in many developing countries. A particular problem associated with this transition is the under-diagnosis and lack of treatment of chronic diseases, and these may exhibit SES gradients and exacerbate social inequality. Using hypertension as an example and data from China (CHNS), we find that the prevalence of hypertension in China is already close to levels in developed countries, under-diagnosis is pervasive, treatment is rare, and failure to control is widespread. Consistent with the literature, we find no income and education gradients in the prevalence of hypertension. However, there are strong education gradients in diagnosis and treatment in urban areas. The income gradients in all aspects of hypertension are relatively weak and sometimes nonexistent. Interestingly, we find that access to health care does not contribute to the diagnosis of hypertension, nor does it aid much in the treatment and control of hypertension. Our results suggest that the epidemiological transition has indeed occurred, but both the Chinese public and its health care system are ill-prepared. There is an urgent need to educate the public on chronic illnesses, and to raise the quality of health care so that patients receive proper diagnoses and guidance on how to treat and control those chronic illnesses.Epidemiological transition, Under-diagnosis

Venture Capital and Knowledge Transfer

This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio companies. We study the costs and benefits of these two forms of knowledge transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the choice between venture capital and other forms of finance, and the determinants of the decision to seek patent protection for innovations. Our analysis provides a rationale for the use of contingencies (specifically, patent approval) in VC contracts documented by Kaplan and Stromberg (2003), and for recent evidence on patterns of syndication among venture capitalists

Venture Capital and Knowledge Transfer

This paper explores a new role for venture capitalists, as knowledge intermediaries. A venture capital investor can communicate valuable knowledge to an entrepreneur, facilitating innovation. The venture capitalist can also communicate the entrepreneur's innovative knowledge to other portfolio companies. We study the costs and benefits of these two forms of knowledge transfer, and their implications for investment, innovation, and product market competition. The model also sheds light on the choice between venture capital and other forms of finance, and the determinants of the decision to seek patent protection for innovations. Our analysis provides a rationale for the use of contingencies (specifically, patent approval) in VC contracts documented by Kaplan and Stromberg (2003), and for recent evidence on patterns of syndication among venture capitalists

Essays on the economics of innovation and intellectual property rights

L'innovation a reçu beaucoup d'attention de la part des économistes. En conséquence, les droits de propriété intellectuelle (DPI), qui permettent à l'innovateur, pour récupérer son coût de R&D, de pratiquer un prix de monopole, ont obtenu une large acceptation. Équilibrer l'efficacité dynamique et statique de la propriété intellectuelle est une préoccupation majeure pour les décideurs politiques. De nombreuses études ont abordé cette question, mais ne sont pas parvenues à un consensus. Dans le premier chapitre, je tente de répondre à la question suivante: Faut-il accorder une exclusivité commerciale supplémentaire pour les nouveaux innovateurs dans l'industrie pharmaceutique? Mes résultats montrent que la valeur acquise par une nouvelle innovation l’emporte sur la perte d'exclusivité sur le marché, mais avec un bénéfice mineur. Dans le chapitre deux (avec Roberta Dessi), nous tournons notre attention vers les aspects financiers des activités innovantes. Nous passons en revue les données empiriques sur l'impact du capital-risque sur l'innovation. Nous proposons un modèle théorique simplifié pour éclairer les signaux potentiels d'endogénéité afin d’identifier comment le capital-risque influence l'innovation. Dans le chapitre trois (avec Margaret K. Kyle), nous explorons les effets potentiels des droits de propriété intellectuelle et des exemptions de recherche sur les avancées cumulées dans le développement de médicaments. Nos résultats montrent que la protection des brevets tend à promouvoir les activités innovantes et faciliter les essais cliniques menés sur les médicaments après lancement. Les exemptions de recherche se révèlent être associées à une diminution des activités d'innovation de suivi. Chacun de ces trois chapitres est autonome. Les chapitres un et trois enquêtent sur le bien-fondé de l'octroi de droits de propriété intellectuelle à l'innovateur. Le deuxième chapitre examine les dispositions financières des activités d'innovation.Innovation has received much attention from economists. As a result, intellectual property rights (IPR), which allow the innovator to recover their R&D cost from monopoly pricing, have obtained wide acceptance. Balancing the dynamic and static efficiency of IPR is a primary concern for the policy makers. Many studies have addressed this question but reached no consensus. In chapter one, I try to answer the following question: Should we grant additional market exclusivity to incremental innovators in the pharmaceutical industry? My results show that the value gained from incremental innovation outweighs the loss from market exclusivity, but with minor benefit. In chapter two (with Roberta Dessi), we turn our attention to the financial aspects of the innovative activities. We review the empirical evidence on the impact of venture capital on innovation. We propose a simplified theoretical model to illuminate the potential endogeneity caveats in identifying the causal effects of venture capital on innovation. In chapter three (with Margaret K. Kyle), we explore the potential effects of intellectual property rights and research exemptions on cumulative advances in drug development. Our results show that the overall effect of patent protection tends to promote innovative activities; post-launch drugs facilitate the clinical trials conducted on them. Research exemptions turn out to be associated with a lower level of follow-up innovation activities. Each of these three chapters is self-contained. Chapters one and three investigate the rationale of granting the innovator intellectual property rights by exploring the pros and cons of intellectual property rights. Chapter two investigates the financial provisions of innovation activities

Essays on the economics of innovation and intellectual property rights

L'innovation a reçu beaucoup d'attention de la part des économistes. En conséquence, les droits de propriété intellectuelle (DPI), qui permettent à l'innovateur, pour récupérer son coût de R&D, de pratiquer un prix de monopole, ont obtenu une large acceptation. Équilibrer l'efficacité dynamique et statique de la propriété intellectuelle est une préoccupation majeure pour les décideurs politiques. De nombreuses études ont abordé cette question, mais ne sont pas parvenues à un consensus. Dans le premier chapitre, je tente de répondre à la question suivante: Faut-il accorder une exclusivité commerciale supplémentaire pour les nouveaux innovateurs dans l'industrie pharmaceutique? Mes résultats montrent que la valeur acquise par une nouvelle innovation l’emporte sur la perte d'exclusivité sur le marché, mais avec un bénéfice mineur. Dans le chapitre deux (avec Roberta Dessi), nous tournons notre attention vers les aspects financiers des activités innovantes. Nous passons en revue les données empiriques sur l'impact du capital-risque sur l'innovation. Nous proposons un modèle théorique simplifié pour éclairer les signaux potentiels d'endogénéité afin d’identifier comment le capital-risque influence l'innovation. Dans le chapitre trois (avec Margaret K. Kyle), nous explorons les effets potentiels des droits de propriété intellectuelle et des exemptions de recherche sur les avancées cumulées dans le développement de médicaments. Nos résultats montrent que la protection des brevets tend à promouvoir les activités innovantes et faciliter les essais cliniques menés sur les médicaments après lancement. Les exemptions de recherche se révèlent être associées à une diminution des activités d'innovation de suivi. Chacun de ces trois chapitres est autonome. Les chapitres un et trois enquêtent sur le bien-fondé de l'octroi de droits de propriété intellectuelle à l'innovateur. Le deuxième chapitre examine les dispositions financières des activités d'innovation.Innovation has received much attention from economists. As a result, intellectual property rights (IPR), which allow the innovator to recover their R&D cost from monopoly pricing, have obtained wide acceptance. Balancing the dynamic and static efficiency of IPR is a primary concern for the policy makers. Many studies have addressed this question but reached no consensus. In chapter one, I try to answer the following question: Should we grant additional market exclusivity to incremental innovators in the pharmaceutical industry? My results show that the value gained from incremental innovation outweighs the loss from market exclusivity, but with minor benefit. In chapter two (with Roberta Dessi), we turn our attention to the financial aspects of the innovative activities. We review the empirical evidence on the impact of venture capital on innovation. We propose a simplified theoretical model to illuminate the potential endogeneity caveats in identifying the causal effects of venture capital on innovation. In chapter three (with Margaret K. Kyle), we explore the potential effects of intellectual property rights and research exemptions on cumulative advances in drug development. Our results show that the overall effect of patent protection tends to promote innovative activities; post-launch drugs facilitate the clinical trials conducted on them. Research exemptions turn out to be associated with a lower level of follow-up innovation activities. Each of these three chapters is self-contained. Chapters one and three investigate the rationale of granting the innovator intellectual property rights by exploring the pros and cons of intellectual property rights. Chapter two investigates the financial provisions of innovation activities

The Value of Incorporating Review Tags into an Online Review System for User Review Generation

Online review mining has become an important way for businesses to understand consumer preferences and product characteristics. Many online review platforms have started to incorporate the extracted information as review tags to guide future reviews. In this study, we leverage a quasi-experiment from an online health service platform to investigate the value of incorporating the review tags (extracted from prior reviews) into the online review system in user review generation. Our preliminary results show that after the provision of review tags, more reviews are provided for doctors but the length of those reviews is shorter. Notably, we also find a decrease in sentiment and an increase in novel reviews. Our findings provide actionable managerial insights for platform managers to design online review systems