Hong Luo

Harvard University
Morgan Hall 241
Soldiers Field Road
Boston, MA 02163

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NBER Working Papers and Publications

May 2018Punishing Robots: Issues in the Economics of Tort Liability and Innovation in Artificial Intelligence
with Alberto Galasso
in The Economics of Artificial Intelligence: An Agenda, Ajay K. Agrawal, Joshua Gans, and Avi Goldfarb, editors
October 2016Tort Reform and Innovation
with Alberto Galasso: w22712
Current academic and policy debates focus on the impact of tort reforms on physicians' behavior and medical costs. This paper examines whether these reforms also affect incentives to develop new technologies. We find that, on average, laws that limit the liability exposure of healthcare providers are associated with a significant reduction in medical device patenting and that the effect is predominantly driven by innovators located in the states passing the reforms. Tort laws have the strongest impact in medical fields in which the probability of facing a malpractice claim is the largest, and they do not seem to affect the amount of new technologies of the highest and lowest quality. Our results underscore the importance of considering dynamic effects in the economic analysis of tort laws.

Published: Alberto Galasso & Hong Luo, 2017. "Tort Reform and Innovation," The Journal of Law and Economics, vol 60(3), pages 385-412.

March 2016Copyright Enforcement: Evidence from Two Field Experiments
with Julie Holland Mortimer: w22082
Effective dispute resolution is important for reducing private and social costs. We study how resolution responds to changes in price and communication using a new, extensive dataset of copyright infringement incidences by firms. The data cover two field experiments run by a large stock-photography agency. We find that substantially reducing the requested amount generates a small increase in the settlement rate. However, for the same reduced request, a message informing infringers of the price reduction and acknowledging the possible unintentionality generates a large increase in the settlement rate; including a deadline further increases the response. The small price effect, compared to the large message effect, can be explained by two countervailing effects of a lower price: an inducemen...

Published: Hong Luo & Julie Holland Mortimer, 2017. "Copyright Enforcement: Evidence from Two Field Experiments," Journal of Economics & Management Strategy, vol 26(2), pages 499-528.

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