their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of … the "inverted-U" relationship between innovation and competition to a merger setting. …

emanating from China's economic ascent could in theory either augment or stifle U.S. innovation. Using three decades of U ….S. patents matched to corporate owners, we quantify how foreign competition affects domestic innovation. Rising import exposure …