Trade-offs among life-history traits are often thought to constrain the evolution of populations. Here we report the disappearance of a trade-off between early fecundity on the one hand, and late-life fecundity, starvation resistance, and longevity on the other, over 10 yr of laboratory selection for late-life reproduction. Whereas the selected populations showed an initial depression in early-...

Economists at the Federal Trade Commission pursue the agency’s competition and consumer protection missions. In this year’s essay, with respect to antitrust we discuss the analysis that is used in two areas where the Commission has recently been active: physician combinations and standard essential patents. In consumer protection, we discuss the FTC’s recently released national study of the acc...

Infective endocarditis (IE) is an endovascular infection and inflammation with vegetation formation, usually caused by infectious agents. Bacterial infection is most common for IE, but other pathogens such as fungi, richettsia, chlamydia and virus, can also cause IE [1]. The vegetations vary in size and shape and are composed of platelet and fibrin blocks with plenty of microbial and small amou...

Economists at the Federal Trade Commission pursue the agency’s competition and consumer protection missions. In this year’s essay, with respect to antitrust we discuss the analysis that is used in two areas where the Commission has recently been active: physician combinations and standard essential patents (SEPs). In consumer protection, we discuss the FTC’s recently released national study of ...

The United States has been pushing for foreign patent protection through free trade agreements and the World Trade Organization’s Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). A gravity model using panel data from 1993 to 2007 suggests that foreign patent protection has not significantly increased the United States’ trade of pharmaceuticals. Other factors are stron...

Agricultural trade between nations is a significant proportion of total international trade. Agricultural trade in transgenic crops faces extra complications due to the existence of domestic and international regimes that focus specifically on agricultural biotechnology. These specialized regimes create legal and commercial challenges for trade in transgenic crops that have significant implicat...

We develop an equilibrium search model of innovation with the possibility of multiple independent discovery. We distinguish innovations from ideas, and we view patents as probabilistic property rights that are constrained by the innovators’ option to keep the innovation secret. We find that the patent system can simultaneously stimulate innovation, information disclosure and welfare. An optimal...

The Biologics Price Competition and Innovation Act of 2009 ("Biosimilars Act") is for the field of pharmaceutical products the single most important legislative development since passage of the Drug Price Competition and Patent Term Restoration Act of 1984 ("Hatch-Waxman Act"), on which portions of the Biosimilars Act are clearly patterned. Congress revised section 351 of the Public Health Serv...

Analysis of the timing of launches of 642 new drugs in 76 countries during 1983–2002 shows that patent and price regulation regimes strongly affect how quickly new drugs become commercially available in different countries. Price regulation delays launch, while longer and more extensive patent rights accelerate it. Health policy institutions and economic and demographic factors that make market...