marketing expenditure. Although promotional activity is modelled as purely wasteful competition among firms for attention, it … unambiguously fosters innovation activity of firms, and possibly, leads to faster growth. This result rests on two premises which … are consistent with empirical evidence. First, if firms incur higher sunk costs for marketing, concentration and firm …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

The paper proposes a simple equilibrium model of venture capital, entrepreneurship and innovation. Venture capitalists … productive and active VC industry boosts innovation driven growth. …

of a consumer increases with aggregate consumption. The post-innovation network consists of two compatible sub … underinvest in innovation. …

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 …