effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

This paper investigates the relationship between product market competition (PMC) and innovation. A growth model is … reduce innovation incentives for laggards. There are four key predictions. First, the relationship between product market … competition (PMC) and innovation is an inverted U-shape. Second, the equilibrium degree of technological neck-and-neckness' among …

fertility of an innovation in generating more innovations cannot be observed. The menu of patent scope can be implemented with …