Innovation is critical to technological progress and has many theories to explain its processes. Organised competition … has been shown empirically to provide an alternative pathway for innovation within an industry, increasing innovation … rates and radicalness. This research introduces and develops the new staged competition innovation theory which builds on …

This paper proposes a quantitative model of firm dynamics with endogenous innovation to study growth acceleration …

innovation, in particular, with uncertainty on the part of follow-on innovation. Technology competition is likely to generate … social overincentives for innovation especially when consumer surplus is negligible. The study finds that a grant-back clause … uncertainty on the part of initial innovation, so that it derives the intuition that competition in the initial technology would …

I model an innovation game in which firms can choose to be leaders or followers. Internal finance leads to a stalemate … in which each firm wants to free-ride on the others' experimentation costs. Therefore, no innovation occurs. When instead … firms compete in the capital markets to finance innovation (e.g., in the case of venture capital or IPOs) there is an …

The primary objective of this paper is to develop a two-country, dynamic, general equilibrium model with innovation … products are endogenously discovered through stochastic and sequential global innovation contests in which challengers devote …

This paper studies the relationship between optimal prizes and scarcity of ideas in innovation contests. We consider a … model where both ideas and effort are integral parts of the innovation process. Contest participants are privately informed …

neoclassical growth model, economics has produced a strong consensus that the economic gains from innovation dwarf those to be had … restraints on innovation can do far more harm to the economy than restraints on traditional output or pricing. Many practices … that violate the antitrust laws are best understood as restraints on innovation rather than restraints on pricing. While …